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.
Carmaker Renault has announced a restructuring plan resulting in net job creation of 500 in France by 2024. The company announced that it will cut up to 2,000 jobs, but at the same time, it will recruit 2,500 new staff. This is part of a reorganisation of its engineering and support activities, with the objective to shift the production to electric vehicles.
Staff reductions are planned for the period 2022-2024. They come on top of the 4,600 job cuts already announced in 2020 to try to get the group out of its economic and financial difficulties (see ERM FS). The 2,000 job cuts envisaged would concern engineering (1,600 job cuts) and support functions (400 job cuts).
Eurofound (2021), Renault, Business expansion in France, factsheet number 105362, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/105362.
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