social plans are multiplying in France

The horizon is darkening in the French economic sky with social plans and threats of job cuts: 2,400 at Auchan, two industrial sites closed and 1,250 fewer jobs at Michelin, and 450 fewer jobs at Vencorex, in judicial recovery. For CGT boss Sophie Binet, it is about “an illustration of what is happening in France with a violent industrial bloodletting throughout the country. The CGT has identified more than 180 layoff plans”.

The government is also announcing an economic downturn. More than 66,000 business failures have been recorded. “We expect around 150,000 net job losses next year. (…) We are going to have a rise in unemployment which we expect to reach 8% next year”explains Mathieu Plane, deputy director of the Analysis and Forecasting Department of the OFCE. A new increase which would politically penalize Emmanuel Macron, who has made a return to full employment his priority for 7 years.

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