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.
French national railway company SNCF is to cut 1,400 jobs in 2010. This was announced on 20 February 2010. SNCF faces decreasing revenues from its high speed train network. Profit margins are down from 20% in 2007 to just over 10% in 2009.
According to SNCF's management, 2,600 jobs will be cut in the company's transport section. At the same time, jobs are to be created in other parts of the enterprise reducing the total number of reductions to 1,400. Trade unions, however, claim that about 2,600 jobs will be cut as the company's budget for 2010 foresees 5,400 departures and 1,800 new staff. Unions called a strike on 3 February 2010.
Eurofound (2010), SNCF, Internal restructuring in France, factsheet number 70079, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70079.