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.
Mattress manufacturer Adova group has announced a restructuring plan that will lead to about 150 job cuts across 5 French sites. About 69 positions will be cut in the factory at Bar-sur-Aube (Aube), 17 job cuts at Coteau (Loire) out of a total of 132 employees and 61 job cuts at Mantes-la-Jolie and Limay (Yvelines). The management will launch a voluntary departures plan to avoid forced dismissals.
Adova group is the new name of the former Cauval Industries which was taken over in 2016 by the investment fund Perceval Capital. The new owner retained 1,445 employees out of a workforce of 1,660: about 215 employees were dismissed. Three other job cuts are recorded in the ERM data base in 2013 (442 job cuts), in 2011 (170 job cuts) and 2005 (335 job cuts). The group has also announced the construction of a new 'smart plant' in Bar-sur-Aube with an investment of €20 million.
Eurofound (2018), Adova Group, Internal restructuring in France, factsheet number 94206, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94206.