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 French group Parrot plans to reorganise its activities in its drones branch for the consumer market by reducing its workforce by nearly 30%. The group plans to cut 290 positions on a total of 840 employees, including 150 job cuts in France. The reductions would target staff mainly in the areas of R&D, marketing, purchasing and support functions. The group's action plan aims "to concentrate innovation capacity on a reduced number of new products and refocus marketing and sales resources on the most profitable distribution channels and the most promising markets". Parrot reached a turnover of €85 million in the last quarter 2016 against €100 million expected.
Eurofound (2017), Parrot, Internal restructuring in France, factsheet number 89826, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89826.