EMCC European Monitoring Centre on Change

La Monnaie de Paris

Company/Organisation:
La Monnaie de Paris

Geographic Location

Country: France
Region: Paris; île de France
Location of affected unit(s): Paris

Company

Sector: Manufacturing
Other manufacturing, and repair and installation of machinery and equipment
32.11 - Striking of coins
Number Employed: 500

Employment Effects

Announcement Date: 29-05-2020
Planned Job Reductions min: 50
Planned Job Reductions max: 50
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-06-2020
Foreseen End Date: 31-12-2021

Additional Information

La Monnaie de Paris, a public establishment which, among other things, performs currency minting tasks, has announced to cut 50 positions out of a total of 500 by 2022. The establishment validated an updated version of the restructuring plan previously presented in October in the light of COVID-19 events. Some processes will undego digitalisation. The workforce is expected to decline by -10% by 2022, without a social plan. Turnover should fall by 15 to 20% this year and an economic loss comparable to 2019 is expected, despite good export orders. 
The company employs 500 people for a turnover of €134 million. Its net losses in 2019 reached €9.6 million.

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