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.
The Accor group, owner of the famous Parisian cabaret Le Lido, has announced an employment safeguard plan, which includes 157 job cuts among the 184 permanent positions in the establishment, together with measures to reclassify and retrain employees. This concerns in particular about 60 people on the 'artistic stage', emphasises a trade union source.
The Accord group wants to transform this legendary Parisian nightclub into a simple theatre. The management has promised its staff that it will continue to pay their salaries until spring 2023, but negotiations with the unions have not yet begun. This announcement comes at a time when the management of the Lido has decided to suspend the short-time working scheme. Since 12 May, all employees must return to work, even if activity has not yet returned to its pre-sanitary crisis level. The Lido, like the whole sector, has suffered greatly from the closures related to the health crisis: the turnover of cabarets and music halls collapsed by 80% in 2020.
Updated [24.08.2022] The Accor group, owner of Le Lido, has obtained the validation of the redundancy plan by the labour administration and launched the redundancy procedure to cut 151 jobs out of a total of 184 employees. The employees will be paid until December 2022. Moreover, 15 positions will be created. A collective agreement on the social plan and the conditions of departure was signed on 26 July by all the representative trade unions.
Eurofound (2022), Le Lido, Internal restructuring in France, factsheet number 106798, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/106798.
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