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 9 November 2012, the media company Sud-Ouest announced its intention to cut 180 out of 1100 jobs in 2013 in the framework of a restructuring plan.
The job cuts will be implemented through a voluntary departure plan affecting mainly the printing (64 positions), pre-press (59) and writing (34) divisions. CGT and SNJ unions went on strike on the 9th and Sud Ouest newspaper was not circulated the following day.
The group publishes 600,000 issues of its 8 regional newspapers every day. It is currently 14 million euro in debt (largely due to the takeover of Midi Libre in early 2008), with predicted losses of 3 million euro for 2012 due to a decrease in readership (-2%) and advertising (-5,5%). According to the management the reorganization is a matter of survival for the company and most of their competitors have already implemented their restructuring plans. The plan aims to save 12 million on operating costs and prepare the company for a merger in 2020 with other media or Internet groups.
Eurofound (2012), Sud-Ouest, Internal restructuring in France, factsheet number 74491, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74491.