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
200 jobs Number of planned job losses
Announcement Date
7 November 2023
Employment effect (start)
1 November 2023
Foreseen end date
31 December 2023
Description
As announced on 07 November 2023, the German online women’s fashion retailer Madeleine will be ceasing operations by the end of 2023, resulting in the loss of 200 jobs.
The fashion retailer applied for restructuring under self-administration in August of 2023. However, the last remaining potential investor has recently withdrawn making a continuation of business impossible. Consequently, all remaining employees will be terminated by the end of the year. Many employees have already been released from their duties as of 01 November 2023.
Eurofound (2023), Madeleine, Closure in Germany, factsheet number 200500, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200500.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
