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.
Michelin, tyre manufacturer has announced 2,300 job cus in France over three years (10% of its workforce), 1,200 of which are in factories and 1,100 in tertiary functions. It hopes to avoid forced departures, counting on early retirement measures for 60% of the objective and voluntary work for the other departures. In this way, the group intends to increase its competitiveness by 5% per year. The group justifies the need to constantly adapt because of the growing competition from cheap Chinese tyres. For several years now, Michelin has been reducing its industrial footprint in Europe, where its factories are too small and bear too high wage costs.
The announcement has provoked strong reactions from the unions, as the group is expected to achieve good results in 2020. Michelin has already closed four industrial sites in France since 2009 and cut more than 6,000 jobs in the process, reducing its workforce to 18,200 people in France today, excluding Euromaster (including 9,300 in industry and 8,900 in the service sector).
Michelin announced the closure of its plant at La Roche-sur-Yon (Vendée) by the end of 2020, resulting in 619 dismissals. Michelin has expanded several times within France over the previous few years, in 2010, 2011, 2013, inMay 2016 and October 2017 at its site of La Roche-sur-Yon (Vendée); in October 2017 at La Chapelle Saint Luc (Aube) and in 2018at Blavozy (Haute-Loire) but also made job cuts in 2009 and 2013. In 2017, Michelin announced the closure of one its sites in Clermont-Ferrand by the end 2017 and a reorganisation of its engineering department by 2018.
Update 5 November 2021:Michelin has announced in the framework of its reorganisation to close its site of La Chapelle-Saint-Luc (Aube) which employs 114 people by 2026, rather than to cut 30 positions as expected in the 2,300 jobs reduction plan when it was announced. The company will avoid forced dismissals and use only natural departures or reemployment measures within the group.
Update 4 Decembre 2022: In the framework of the restructuring announced in 2021, Michelin has announced to cut 451 positons in France including 313 at Clermont-Ferrand, 51 at Cholet, 30 at Troyes and 25 at Le Puy-en-Velay. At the same time, the group plans to create 318 jobs.
Eurofound (2021), Michelin, Internal restructuring in France, factsheet number 102961, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102961.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
