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.
MAEC, the French-based company specialised in the manufacturing of equipment and materials for electrical and telecommunications networks, announced a reorganisation that will lead to up to 83 job cuts out of a total workforce of 380 employees (more than 20% of the workforce).
All the MAEC's departments are going to be affected by the dismissals, and the envisaged internal restructuring caused a temporary blockage of the establishment by the employees in late July 2020.
Moreover, the Social and Economic Committee (CSE) - a workers' internal representative body - mandated a chartered accountant to analyse the economic reasons cited by the employer and a lawyer to defend the interests of the employees. The firm-level unions expressed concern not only about the consequences of these 83 job cuts for the interested employees, but also for the impact on the territory (schools, desertification, etc.).
MAEC is part of the Group Cahors, and international holding focused on the development of electrical and telecommunications network. It was founded in the 1950s and is the biggest among the holding's companies.
Eurofound (2020), MAEC, Internal restructuring in France, factsheet number 101430, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101430.
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