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 Food, Beverages And Tobacco In Specialised Stores 47.29 - Other Retail Sale Of Food In Specialised Stores
120 jobs Number of planned job losses
Announcement Date
14 November 2024
Employment effect (start)
14 November 2024
Foreseen end date
Description
The food retailer Tegut, based in Fulda and a German subsidiary of Migros Zürich, is cutting 120 full-time positions in central services. Additionally, every 10th store out of its 340 locations in Germany is to be sold. According to the company, Tegut has had a challenging time in the current market environment and stated that Tegut had failed to tap into its market potential, with sales and revenue growth being insufficient. Efforts are being made to find socially responsible solutions for the affected employees. Tegut employs 7,700 people in Germany.
Eurofound (2024), Tegut, Internal restructuring in Germany, factsheet number 201988, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201988.
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