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 14 December 2017, the management of the Saur Group, specialised in water management, announced to its Central Works Council its intention to cut 132 jobs. Management explains that the job cuts will be made through non-renewal of positions related to retirements, resignations and fixed-term contract ends.
The unions denounce a third reorganisation in five years that will necessarily lead to a deterioration of the working conditions of employees who remain in the workforce. Management explains that this decision is motivated by the aim to improve the performance of the company and the quality of the service provided to customers. The unions estimate that these job cuts are linked to the financial deadlines that await the group at the end of 2018. Saur Group must indeed refinance its debt in 2018 and may have to cope with a change in its shareholders. Management and trade unions have started to negotiate on the different employees' support measures related to the reorganisation. Job cuts will start after a period of consultation.
The group employs 11,872 employees, including 10,428 in France. The French workforce decreased from 11,116 in 2013 to 10,428 in 2015. The group reached a turnover of €1.6 billion in 2015.
Eurofound (2017), Groupe Saur, Internal restructuring in France, factsheet number 93071, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/93071.
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