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French groups regularly announce cost-reduction plans (or “CRPs”), which are consequently part of their voluntary financial disclosures. In this paper, we use the theoretical framework for corporate financial disclosure proposed by Gibbins, Richardson & Waterhouse (1990) to study the practices of French listed companies which voluntarily announce CRPs. We adapt the initial framework to the specificities of French practices regarding CRPs, and test it with empirical data from 89 press releases through content analysis. We find, in addition to the two corporate disclosure positions predicted by the initial framework- - i.e., opportunism and ritualism- - a third position, called “nomadism.” Internal and external antecedents which influence the three corporate disclosure positions are also empirically tested.