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.
The globally operating Nexans Group has announced its plans to cut 486 jobs and create 39 jobs in France, Germany, Switzerland, and Italy. These measures are part of a European-wide restructuring initiative including also the transfer of 462 workers between sites in the same countries.
The planned restructuring measures follow adverse market conditions and a 2.9% drop in sales in the first three quarters of 2013. The job creation will take place mostly in the group’s R&D units.
Negotiations on the restructuring process will officially start on November 6th and stretch over 4 months. In an attempt to minimize social consequences, employee and union representatives will be included in the process.
In 2009, the group had already cut 387 positions in France (see Nexans – FR2009).
Eurofound (2013), Nexans, Internal restructuring in World, factsheet number 76006, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76006.