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 Wholesale And Retail Trade And Repair Of Motor Vehicles And Motorcycles Sale Of Motor Vehicles 45.11 - Sale of cars and light motor vehicles
345 jobs Number of planned job losses
Announcement Date
15 July 2020
Employment effect (start)
Foreseen end date
Description
Vertu Motors, the British car dealership chain has announced that it plans to cut 345 jobs, approximately 6% of its workforce across the UK.
The company’s chief executive officer explained that the COVID-19 crisis had indirectly contributed to the job cuts: the company had introduced new online sales software and customers were happy to use it, making jobs in show rooms redundant.
Vertu Motors was founded in 2006 and it has a network of 130 show rooms across the UK as well as a contact centre in the north east of England.
Eurofound (2020), Vertu Motors, Internal restructuring in United Kingdom, factsheet number 101563, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101563.
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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.
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