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.
On 18 October 2012, French producer of telephone network equipment Alcatel-Lucent announced its intention to cut 1430 jobs, 15% of its workforce in France.
The job cuts will be made within the framework of a worldwide restructuring plan announced on 26 July, with its intention to cut 5000 jobs (6.6% of its workforce). On 18.10.2012 this number was updated to 5490 staff reductions worldwide (see here). Since the merger with Lucent the company has cut around 20,000 jobs.
France is the country most affected by the measures, as the cuts would mainly hit support functions such as sales, marketing, finance and human resources, located in the headquarters in Velizy, that will be reduced and moved to Villarceaux (Essonne). Union representatives in France pledged to fight the 1,430 job cuts in France and called on the government to intervene. Industry Minister Arnaud Montebourg responded in a statement that the government would want Alcatel-Lucent to keep the most strategic parts of its business in France.
The group reported a substantial loss in the second quarter of the year and saw its sales fall by 7.1%. Alcatel-Lucent CEO Ben Verwaayen stressed the necessity of restructuring, due to a decline in demand for network equipment and rising competition. The cuts will be implemented by the end of 2013 and will affect all sectors except for Research and Development.
Eurofound (2012), Alcatel-Lucent, Internal restructuring in France, factsheet number 74350, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74350.
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