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.
Adolfo Domínguez, the Spanish fashion designer and retailer company, has announced a collective dismissal plan. This adjustment will affect 300 employees (30% of its workforce in Spain) at headquarters and in the commercial network.
The management explains that the company has had losses since 2011, a situation exacerbated by the COVID-19 crisis, determining €8.3 million euros of losses in the financial year 2019-2020. Thus, this measure is part of a transformation plan to adapt the company to the digital context of the sector – for example, with the acceleration of the e-commerce.
The company has 348 branches in 18 countries. The current restructuring plan comes after the collective lay-off of 56 employees in 2018.
Eurofound (2021), Adolfo Dominguez, Internal restructuring in Spain, factsheet number 104661, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104661.