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 Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
120 jobs Number of planned job losses
Announcement Date
30 September 2008
Employment effect (start)
30 September 2008
Foreseen end date
Description
Schöps, an Austrian clothing retailer with branches across Austria, announced on 30 September 2008 that 120 out of the chain's 578 employees were dismissed on that day. The job losses followed the acquisition of the company by Jamal Al-Wazzan, a businessman mainly operative in the retail and real estate sectors, in August 2008. The new owner has announced plans to re-organise the whole company and to convert all of the stores into franchise shops. According to Wolfgang Neubert, the company's CEO, management will attempt to retain as many employees as possible. Therefore each new leaseholder of a store shall be committed to take over all of the store's employees. Nevertheless, the trade unions have demanded the conclusion of a social plan for the employees affected by dismissal.
Sources
30 September 2008: Die Presse
Citation
Eurofound (2008), Schöps, Merger/Acquisition in Austria, factsheet number 67200, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67200.
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