Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Marionnaud, Europe's largest luxury perfume and cosmetics retail chain, has announced the cut of 582 jobs between December 2009 and March 2010.
The company is owned by the Chinese company AS Watson. In October, employees demonstrated in Bordeaux, Grenoble, Paris, Rennes and Strasbourg against the original plan to cut 704 of its 4160 jobs in France. Negotiations with the company's works council resulted in maintaining 103 jobs and reducing the number of redundancies to 582. Although Marionnaud has received some 700 applications for voluntary departure, management has decided not accept all requests.
For the past three years, Marionnaud has been experiencing losses of €25 million annually.
Eurofound (2009), Marionnaud, Internal restructuring in France, factsheet number 69867, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69867.