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.
Albéa, a packaging manufacturer specialised in cosmetics and perfume product, has announced to its employees that it intends to cut about 66 positions out of a total of 282 on its site at Plouhinec (Morbihan). The aim is to specialise the plant in production of lipstick mechanisms with a €10 million investment plan and to relocate care end perfume activities to other sites. The company reached a turnover of €43 million in 2014 and works for cosmetic groups like Yves Rocher, L’Oréal and Dior. It belongs to the investment fund Sun Capital Partners. According the union CFDT, the job cuts will result in the dismissal and non-replacement of employees reaching retirement age. The employees’ representatives have nominated an expert to analyse the situation and a meeting is scheduled on 26 November to give more details on the social plan. Albéa group has 16,000 employees worldwide with facilities in 16 countries and a turnover of $1.6 billion dollars. Albéa has three other plants in France in Sainte-Ménehould (Marne), Vandières (Meurthe-et-Moselle) and Bernaville (Somme).
Eurofound (2015), Albéa, Internal restructuring in France, factsheet number 85464, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/85464.
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