Nexans Announces a Project to Enhance Its Organization and Restructure Its European Operations
Nexans Press Release
January 24, 2019
Stronger focus on operational efficiencies and competitiveness. Leaner, more agile and cost-effective organization.
Paris La Défense – Nexans enters today an Information and Consultation process and announces a restructuring project that would allow:
- A complete resizing of the organization through the refocusing on its core Business Groups, suppressing regional structures and greatly reducing complexity;
- A leaner and more cost effective, agile organization, achieved through the rationalisation of hierarchical structures.
This project would help Nexans:
- achieve superior realignment of Corporate activities at headquarter level;
- sharing of certain functional activities between countries;
- refocusing certain industrial footprint.
Today’s restructuring project would also contribute to the optimization of the Group Innovation and Technology existing structure, in line with the current evolution of the businesses towards more modularity and services.
This restructuring project would affect 939 positions, and will see the creation of 296 jobs. The main social impact would be in Germany, France, Switzerland and, to a lesser extent, Belgium, Norway and Italy.
Nexans will be working closely with all stakeholders to minimize the social impact of the project in accordance to applicable laws. Nexans is deeply committed to working closely with affected employees and unions representatives to provide the appropriate support.
“The world market evolution and customer demand requires us to lead a profound transformation of Nexans, its skills, its positioning, its offers and its businesses. The aim of the New Nexans is to evolve beyond the market of cable commodities to become leader in energy, data, and systems management solutions. Today, the Group presents a project to employees and union representation to make the company leaner and more agile, sustainably restore its competitiveness and pave the way to capture more value from services and the development of innovative solutions. Entering the consultation process shall be an opportunity to explain and bring forward our proposals to achieve these goals.”
Christopher Guerin, Nexans CEO