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.
Costa Coffee, the UK-based multinational coffee shop chain, has announced that it will cut 1650 jobs, 10 per cent of its workforce across the UK in response to the reduction in sales caused by the coronavirus pandemic. The job cuts will affect the assistant store manager role across the company’s outlets.
Costa Coffee’s managing director said the company has taken the difficult decision to make redundancies “to protect” the business and as many jobs as possible “for future growth.”
Costa Coffee, which is owned by Coca Cola, operates the largest network of coffee shops in Britain. Globally, the chain has 3,401 stores in 31 countries, with over 18,000 employees.
Eurofound (2020), Costa Coffee, Internal restructuring in United Kingdom, factsheet number 101948, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101948.