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 47.24 - Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores
200 jobs Number of planned job losses
Announcement Date
4 August 2006
Employment effect (start)
Foreseen end date
Description
High street bakery chain Greggs have announced that they are to cut 200 jobs. The firm, that employs 19,000 in the UK, made the announcement as it reported a 20% drop in profit. Pre-tax profits fell to £12.5m in the six months to June 17 from £15.6m a year earlier. Greggs blamed sweltering weather for hitting sales in the last two weeks of the period, although like-for-like sales were up 3.1% overall, rising to £243.1m. With profits down, Greggs has decided to close 14 Bakers Oven shops in northern England because of the "unsatisfactory performance" of the division in both the north and Scotland over recent years. The company plans to transfer 49 of the 63 Bakers Oven shops in the two regions to its divisions in the north-east, Yorkshire and Scotland. The shops will be rebranded as Greggs, and the costs of the closures are expected to reach £2.5m.
Sources
4 August 2006: The Guardian
Citation
Eurofound (2006), Greggs, Relocation in United Kingdom, factsheet number 63861, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63861.
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.
