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 the pay-TV channel Canal + has announced to the employee representatives an internal reorganisation, resulting in a voluntary departure plan affecting 500 positions out of a total workforce of about 2800 employees. This plan is particularly aimed at the publishing division, which is dedicated to programme production, but all entities - distribution, studios, administration - are concerned. The pay-TV group, which competes in particular with Netflix and Amazon Prime, has not succeeded in stopping the erosion of its sales. In the first quarter, its revenue in France fell by a further 5% to €761 million. The networks subscribers declined by the same amount to 4.6 million households; a decrease of 217,000 subscribers in one year. A previous restructuring announcement took place in 2017 (153 job cuts).
Eurofound (2019), Canal +, Internal restructuring in France, factsheet number 98091, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98091.