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 Trade, Except Of Motor Vehicles And Motorcycles 47 - Retail trade, except of motor vehicles and motorcycles
1,200 - 1,900 jobs Number of planned job losses
Announcement Date
29 December 2006
Employment effect (start)
Foreseen end date
30 September 2007
Description
On 29 December, the retail group REAL, a subsidiary of the retail and wholesale giant Metro, announced the closure of 15 superstores at various sites in Germany that pertained to the former Wal-Mart Germany. Around 1,200 employees are supposed to be affected. In addition, the central department of Wal-Mart Germany that is located in Wuppertal is to be closed by September 2007, too. Some of the 700 employees will be offered vacancies at other sites of REAL and Metro. The remaining 70 stores with almost 10,000 employees will be renamed and integrated into the REAL network. Wal-Mart Germany was acquired by Metro at the end of July 2006 and the merger was approved by the Federal Cartel Office at the beginning of November.
Sources
2 January 2007: Handelsblatt
Citation
Eurofound (2006), REAL, Merger/Acquisition in Germany, factsheet number 64684, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64684.
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