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 American international insurance company AIG has announced plans to cut 103 jobs at its French subsidiary, in the framework of a large restructuring. As reported, the cost-cutting measure is also aiming at increasing the quality of its customer services. As announced, the company, taking into consideration some vacant positions and recruitment of new staff, refers to a net loss of 103 jobs, but the unions refer to 128 potential job cuts that refer to 115 employees. Most of the jobs affected are managerial ones. According to the sources, the negotiation period with employees’ representatives is expected to conclude before the end of 2014 and the job cuts are scheduled for 2015. It is the third restructuring plan since 2010. AIG employs 63,000 employees worldwide.
Eurofound (2014), AIG, Internal restructuring in France, factsheet number 77554, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77554.