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.
On January 18th, the road sign and sign-board manufacturer, SES (498 employees), announced its intention to cut 106 jobs in France including 40 at its two plants in Touraine and the closure of two sites in Wattignies (Nord) and Chaudun (Aisne). The management cites its need to increase efficiency during the economic downturn and a general price decrease (-50% since 2006) as the reason for the redundancies. The group was recently fined for participating in a illegal cartel with eight other firms from 1997 to 2006. The firm had to pay a fine of 52.7 million euro last year. Management said direct dismissals will be avoided and the job losses will be implemented by means of internal mobility and voluntary departures. The job reduction will take effect from the end of March.
Eurofound (2011), Groupe SES - Sécurité et Signalisation, Internal restructuring in France, factsheet number 71487, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71487.