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 aeronautics subcontractor Assistance Aéronautique et Aérospatiale (AAA) announced the 719 job cuts among its 1,587 employees in France, after having stopped the contracts of 500 temporary workers. This major service provider, which employs 3,500 people worldwide, works on the assembly lines of Airbus, Stelia, ATR, Dassault, Safran and Bombardier, in particular, to absorb production increases.
Since the COVID-19 health crisis in March, the company has lost 65% of its turnover (€233 million in 2018) with the fall in aircraft construction and the resumption of activity sub-contracted by customers. AAA is based in Paris and its employees are spread over its customers' sites in Toulouse, Méaulte (Somme), Saint-Nazaire, Bordeaux, among others, and its plants in Tarbes (Hautes-Pyrénées) and Carquefou (Loire-Atlantique). The site most affected is Toulouse, where 297 jobs are to be cut (half the workforce), followed by Méaulte (Somme) with 138 jobs cuts (90% of the staff). The other job cuts will take place in the West of France, 78 in Tarbes, 28 in Argenteuil, 13 in Paris and at other locations. The trade unions are calling for the use of the new long-term partial activity scheme to reduce the social impact, as implemented at Safran. This solution has been accepted by management for only a small part of the staff.
Eurofound (2020), AAA - Assistance Aéronautique et Aérospatiale, Internal restructuring in France, factsheet number 101301, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101301.
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