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.
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.
H&M has 16,000 employees in Germany.
Eurofound (2021), H&M, Internal restructuring in Germany, factsheet number 103487, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103487.