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.
DHL, the express subsidiary of Deutsche Post, has announced that DHL would cut 285 jobs in France and transfer 150 workers, in a bid to cope with the deterioration of its activities. As the job cuts are prompted by the decline in transported volumes, they will not concern the logistics activities of the company.
DHL will cut 225 jobs between September and December 2009, while 60 job cuts are envisaged at the group's support and freight services. DHL has a total of 5,200 staff employed. DHL's logistics business has not been affected by the job cuts. Deutsche Post has planned EUR 1 billion of savings by 2010 and intends to optimise its business in France to adapt its capacity to the decline in activity.
A French union, the General Confederation of Labour - Force ouvrière (Confédération générale du travail - Force ouvrière, CGT-FO), commented: 'Permanent restructuring has been going on for three years and the financial reasons for the social plan seem doubtful to us.' The unions called on employees to prepare for massive industrial action in the beginning of September 2009.
In the first half-year, Deutsche Post DHL revenues declined 15.3% to EUR 22.58 billion but operating profits dropped dramatically 85% to EUR 136 million. However, net profits increased 64.5% to EUR 1.01 billion due to a higher valuation of Postbank put options in the first three months of the year.
Eurofound (2009), DHL, Internal restructuring in France, factsheet number 69346, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69346.
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