Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The largest Danish based multinational company in fashion clothing, Bestseller, announced 20 March 2020 that the company will have to dismiss 750 employees in Denmark and an uncertain number of employees globally. The redundancies are a result of the impact of the spread of Coronavirus, which has sent orders for the company's products to a sudden almost complete stop. The company will also make use of the support package of the Danish government that offers wage compensation to employees that are sent home (not fired) due to a dramatic fall in sales and production. The company has also furloughed 2400 employees as well as dismissing 750 employees.
Eurofound (2020), Bestseller, Internal restructuring in Denmark, factsheet number 100364, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100364.