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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.51 - Retail sale of textiles in specialised stores
200 jobs Number of planned job losses
Announcement Date
5 May 2020
Employment effect (start)
5 May 2020
Foreseen end date
Description
On 5 May 2020, clothing retail chain Gerry Weber announced workforce reduction by 200 positions. The restructuring is due to profit losses during the coronavirus crisis. The company, currently employing around 3,000 employees, completed its insolvency procedure at the beginning of 2020 and started to recover from the process when the COVID-19 outbreak hit Germany and stores had to be closed. The company states that it had lost around €100 million due to the closing of stores and did not expect to make up for this loss. Apart from job cuts, the company has also renegotiated deals with suppliers and business partners.
Currently, there is no new information on which locations will be affected and what is the timeline of the restructuring.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
