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.
Thales Alenia Space, a major player in the field of orbital infrastructure, announced to its central works council the loss of 500 jobs at the Cannes and Toulouse sites. These two sites, which complement each other in the manufacture of observation and telecommunications satellites, employ 2,000 and 2,500 employees respectively. The Cannes site would be the most affected, where a plan to reduce the number of employees affecting 150 positions is already under way. Management is facing a period of slowdown in the optical observation and telecom markets in the space sector. It therefore has a problem of matching its workload to its staff. Employees will have to wait until late April or early May for the end of negotiations with the social partners, to find out the details of the job cuts, which will initially be based on voluntary departures and non replavement of retiring employees.
Restructuring affecting Thales Alenia Space were announced in 2010 (150 job creations at Cannes), in 2014 (270 job cuts at Cannes and Toulouse sites) and in 2016 (270 job creations at both sites).
Eurofound (2019), Thales Alenia Space, Internal restructuring in France, factsheet number 97627, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97627.
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