The title of this article is probably too broad because it focuses on the experiences of workers in one French company. Still, the article provides an excellent illustration how privatization of a state company can, and often does, severely impact workers.
The privatization of France Télécom began in 1996 when shares were placed on financial markets, although the state retained majority ownership until much later. Employees accepted this partial privatization on the grounds that they would retain their public service status as fonctionnaires, which meant they could keep certain benefits, including job security, and that they couldn’t be legally fired.And then it was all down hill from there.