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 In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
350 - 500 jobs Number of planned job losses
Announcement Date
23 April 2008
Employment effect (start)
Foreseen end date
31 December 2008
Description
Tchibo, a German retail company, has announced that it is to cut 350 to 500 jobs in 2008. The company's restructuring scheme involves the streamlining of its management, the restructuring of its network shops as well as improving its marketing. Tchibo, which operates coffee shops that also offer consumer goods, suffered from a decline in sales in 2007, and it aims at boosting the pretax margin to at least 5% by 2010. As of April 2008, there is no information on the exact location of the units affected by the restructuring. The management stated that job losses will be implemented through natural wastage; i.e. employees who leave the company will not be replaced. However, Tchibo plans to open more than 400 new shops in Eastern Europe over a 5-year period.
Sources
24 April 2008: Handelsblatt
Citation
Eurofound (2008), Tchibo, Internal restructuring in Germany, factsheet number 66545, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66545.
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