EMCC European Monitoring Centre on Change



Geographic Location

Country: France


Sector: Financial services
Financial and insurance activities
66 - Activities auxiliary to financial services and insurance activities
Number Employed: 1030
Group: Valiance (UBS)

Employment Effects

Announcement Date: 27-03-2004
Planned Job Reductions min: 411
Planned Job Reductions max: 1030
Type of Restructuring: Internal restructuring

Additional Information

Solymatic, a subsidiary of the Valiance group that maintains ATMs, follows the restructuring of Valiance by shedding 411 of its 1,030 jobs. On 26 April 2004, the company has filed for bankruptcy.