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 Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
800 jobs Number of planned job losses
Announcement Date
26 January 2021
Employment effect (start)
25 January 2021
Foreseen end date
Description
As announced on 26 January 2021, the Swedish fashion retailer H&M will be cutting 800 jobs in Germany due to internal restructuring. H&M has been hit hard by the COVID-19 crisis with sales dropping by 18% last year. The job reduction is planned to be carried out via a voluntary programme. As of today, there is no timeframe for the implementation nor information on the locations of cuts available. The programme has received a lot of criticism, also because the group of employees eligible for the voluntary programme includes those on parental leave and on long-term sick leave.
Eurofound (2021), H&M, Internal restructuring in Germany, factsheet number 103487, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/103487.
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