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.
French telecommunications company SFR (Groupe Vivendi) has announced a substantial reorganization which entails the loss of 120 to 500 jobs. The job cuts will mainly affect temporary workers and employees with short term employment contracts, according to the unions informed by the management. According to media reports, the reorganization is a reaction to the arrival of a new competitor in the telecommunications market, Free (group Illiad). Two month ago, Free introduced new discounted offers and since then SFR has lost 208,000 customers. Vivendi's wireless division has frozen all new projects, recruitments and research to adapt to falling prices in the French market after Free has started its discounted service last January. A timeline for the restructuring is not known yet.
Sources
8 March 2012: Silicon.fr
3 July 2012: TF1
7 March 2012: Boomberg
Citation
Eurofound (2012), SFR, Internal restructuring in France, factsheet number 73230, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73230.
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