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 management of supermarket network Carrefour has announced a voluntary departure plan to cut about 246 positions by 2018. The cuts will affect its financial services subsidiary, Carrefour Banque. Carrefour Banque currently employs 1,643 employees including 1,200 working in its 205 agencies across France. The subsidiary is owned by Carrefour SA (60% of the share) but 40% of the shares belong to the bank BNP Paribas).
The management is currently negotiating with unions the content of the voluntary departure plan that will lead to cut about 15% of the workforce. In the meanwhile, Carrefour Banque will recruit 52 employees in the framework of its adaptation plan to digitalisation. In 2015, the bank earned €413 million (–23% in comparison to 2014).
The first departures are expected by September 2016 after completing the information and consultation process with employee representatives and negotiation with unions.
Eurofound (2016), Carrefour Banque, Internal restructuring in France, factsheet number 87855, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87855.