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 47.1 - Retail sale in non-specialised stores
334 jobs Number of planned job losses
Announcement Date
1 September 2008
Employment effect (start)
Foreseen end date
31 May 2009
Description
On 24 October 2008 the department store chain Karstadt announced the loss of 334 jobs in its central headquarters in Essen. This follows extensive negotiations with the works council which resulted in an agreement on a social plan. Prior negotiations with the works council, Karstadt announced the loss of 400 to 450 jobs. The job losses will be implemented by 31 May 2009 and will be achieved through voluntary means in order to avoid direct dismissals. The company’s headquarters currently employs 2000.
Sources
24 October 2008: Frankfurter Allgemeine Zeitung
2 September 2008: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2008), Karstadt, Internal restructuring in Germany, factsheet number 67035, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67035.
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