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.
Thales AVS, the Thales Group's aerospace subsidiary, has announced 1,000 job cuts in France, out of the 4,000 currently employed. The company is suffering 25% business losses due to the COVID-19 epidemic.
Negotiations have been opened with the trade unions and the management has indicated its willingness to adapt employment to avoid redundancies, favouring voluntary departures and recourse to long-term short-time working. In addition, a reclassification of employees to other, less weakened entities of the group has already begun. In Toulouse, for example, part of the engineering division was able to lend a hand to the Alena Space subsidiary. The other solutions negotiated will concern early retirement schemes, internal mobility or aid for business creation.
Eurofound (2020), Thales AVS France, Internal restructuring in France, factsheet number 102425, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102425.
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