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.
Travaux du Midi Provence (TMP), the French construction company, has announced 184 job cuts out of a total of 524 employees.
The internal restructuring will involve, in particular, 169 blue-collar jobs and 15 site managers. In terms of support, TMP declared to intend to give priority to voluntary departures and to the solutions resulting from the consultation with employee representatives.
The company, which belongs to the Vinci Construction Group, has been experiencing a continuous deterioration in its activities since 2016, recently aggravated by the health crisis. The management specified, indeed, that in the last four years the turnover reduced to a fourth, while the precarious economic conditions of the company already force TMP to put 80 employees in reduced working time during the COVID-19 health crisis.
According to Vinci Construction, short- and medium-term forecasts do not allow the company to provide all its teams with profitable activities. This situation, therefore, lead to the decision to adopt the dismissal plan.
Eurofound (2020), Travaux du Midi Provence, Internal restructuring in France, factsheet number 101398, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101398.
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