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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.0 - Computer programming, consultancy and related activities
1,500 jobs Number of planned job losses
Announcement Date
23 February 2023
Employment effect (start)
23 February 2023
Foreseen end date
1 June 2023
Description
The large Swedish clothing retailer is cutting a large part of their IT-department (1,500 employees) under the company name H&M Business Tech. A major skills assessment of the employees is being carried out with the help of various skills and personality tests to determine which of the 3,500 employees will stay. Business Tech is a large department responsible for the operation of all IT systems within H&M - from administrative systems to e-commerce, checkout systems and logistics, as well as the development of AI and other digital services.
In late 2022 H&M announced it would cut up to 1,900 to the workforce in the physical stores as well, then due to changed customer behavior and increased online retailing (HM-2022-SE)
H&M is a Swedish multinational clothing company in the sector of fast-fashion clothing for men, women, teenagers, and children. The company employs around 171,000 people in 69 countries. In Sweden, H&M had 10,541 employees in 2021.
Eurofound (2023), H&M Business Tech, Internal restructuring in Sweden, factsheet number 108597, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108597.
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