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 manufacturer of crushing machines and plants for mining and quarrying, Metso, announced an employment safeguard plan that will lead to a cut of about 89 positions in France, mainly in its main unit and headquarters at Macon (Saône-et-Loire). The company has improved its productivity over the two last years but not enough to safeguard against a continuing decrease in sales. The company's turnover decreased from €296,3 million in 2013 to €278,4 million in 2014, and only hit €207 million in 2015 (a drop of 26% in comparison to 2014).
The management of the Finnish subsidiary Metso justified its decision by citing very difficult economic conditions in its two main markets: the mining industry and the construction sector. On 22 April, Metso presented an employment safeguard plan to its Central works council. Moreover, it has opened a one-month period of negotiation with unions regarding the content of the plan. 30 positions will be reduced by non-replacement, while 60 positions will be dropped by voluntary departures or direct dismissals.
Over the last two years, Metso has cut about 90 fixed-term contracts and 70 temporary workers. According the union CGT, the social climate within the company has deteriorated. The union denounced the fact that the company continues to make profit, and says that it has paid too much to its shareholders over the last few years.
Eurofound (2016), Metso France, Internal restructuring in France, factsheet number 87622, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87622.