Restructuring events
European Restructuring Monitor (ERM)
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.
German retail chain of do-it yourself material and equipment Praktiker announced a job reduction up to 1400. In the frame of a wide-reaching restructuring programme Praktiker will close down up to 38 of total 256 stores and dismiss about one third of all administrative staff. Additionally, Praktiker headquarters, currently situated in Kirkel, Saarland, will be merged with Max Bahr headquarter, a do-it-yourself chain of the same group, in Hamburg. Furthermore, the company is to close down its Albanian stores and is considering closing down other European operations.
German union Ver.di criticizes the management for the restructuring measures and pledges for the preservation of the threatened jobs.
There is no information on the timeframe of the restructuring as of now.
Eurofound (2011), Praktiker, Internal restructuring in Germany, factsheet number 72778, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72778.