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 American cosmetics group Estée Lauder has announced 1,500 to 2,000 job cuts (up to 3% of its worldwide workforce) as part of a worldwide reorganisation. The group, whose net profit has fallen by more than 60% over one year, plans to close 10 to 15% of its stores, mainly in Europe, the Middle East, Africa and North America. It is counting on digital sales to rebound. This reorganisation plan is to be spread over two years and is designed to 'address the dramatic changes in the retail landscape and consumer behaviour following COVID-19', according to the company.
Eurofound (2020), Estée Lauder, Internal restructuring in World, factsheet number 101531, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101531.