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.
Cultural and entertainment goods retailer FNAC announced 180 job cuts in France out of 800 employed in the music retail stores (employed under the subsidiaries Codirep and Relais).
According to FNAC this decision results from the failure to reach an agreement with unions on an employment forecast management plan (Gestion prévisionnelle des emplois et des compétences – GPEC) to adapt the workforce. Company and unions had negotiated for 15 months.
FNAC highlights that the CD market has lost more than one half of its value between 2006 and 2012.
FNAC will start a new negotiation to reach an agreement on the social plan. A previous restructuring has been implemented in 2012 to cut 510 positions in Europe including 310 ones in France.
Eurofound (2013), Fnac, Internal restructuring in France, factsheet number 75922, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75922.