Nexans to reorganize its European operations

The Nexans Group operates in a cable market which is currently facing a number of major challenges. This is particularly the case in Europe, where a lack of growth, overcapacity and fierce competition. The Group companies now consider measures to address the situation. The company has sent out a document setting out a reorganization project for the operations of the Group's European subsidiaries to employee representatives. The company seeks out to preserve its competitiveness through these factors:

• Streamline the manufacturing base of the Industry segment in Europe.
• Optimize the organizational structure and production sites of the land high-voltage business.
• Streamline and adapt support functions in line with the requirements of the Group's European subsidiaries.
• Strengthen R&D resources.

The project would be implemented in all of the European countries but would primarily concern France, Germany, Switzerland, Italy and Belgium. Leading to job cuts of 468 positions in Europe, as well as the transfer of 462 positions (and at the same time crating 39 new positions).