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 furniture manufacturer Parisot has announced an employment safeguard plan following financial difficulties that will result in 127 redundancies. The company, which has 520 employees, had been in receivership since June 2019. A first information meeting of the Social and Economic Committee is scheduled for 1 October. The trade union organisations are already calling for a shutdown on that day. 'Despite the improvement in the company's results, they remain negative. The furniture market remains complicated and the order book is lower than we expected,' explains the management in a press release addressed to employees. In the absence of any buyers, management has therefore decided to reduce the staff by about 25%. Management has informed employees of the establishment of a psychological support telephone line.
Eurofound (2019), Parisot, Internal restructuring in France, factsheet number 98637, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98637.