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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35.1 - Electric power generation, transmission and distribution
Areva has started negotiations with social partners in France that will continue throughout May and June. The negotiations will be followed by information and consultation with relevant employees’ representatives. The first job cuts could also start by October 2015. Areva had already announced 1,500 job cuts in Germany, where around 5,000 people are employed and in Nigeria (170 job cuts in its mining activities). In 2011 Areva announced its first transnational restructuring, with about 1,500 job cuts in the EU.
The aim is to reduce staff costs about 18% internationally. Areva has recently announced a loss of almost €4.8 billion for 2014. The state-controlled group is negotiating an even more radical reorganisation plan with the main French electricity producer EDF and the French government. Areva has not sold a new nuclear reactor since 2007. It is facing strong competition from US, Russian and South Korean companies and a dramatic decrease of demand for nuclear power stations since the Fukushima disaster in Japan. Areva has also failed to build a new generation nuclear power station (EPR) in Finland (10 years' delay and still not finished) and is facing construction problems on the French site of Flamanville.
Sources
7 May 2015: Business Insider
7 May 2015: Le Monde
Citation
Eurofound (2015), Areva, Internal restructuring in World, factsheet number 83456, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83456.
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