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.
Pentland Brands, the UK-based global sports brand retailer has announced plans to cut 350 jobs, affecting employees working in support roles at its head offices in the UK. Redundancy consultations with the affected members of staff have already started.
The chief executive officer said the decision to cut jobs was based on a strategic review which started before the COVID-19 crisis but added that the pandemic was going to have a 'major impact' on the business. The group aims to invest in digital technology and platforms, including an expansion of their retail customer website.
Pentland Brands is part of the Pentland Group, which employs more than 50,000 staff across its global operations and owns well-known brands such as Speedo, Ellesse and Berghaus.
Eurofound (2020), Pentland Brands, Internal restructuring in United Kingdom, factsheet number 101561, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101561.