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.
As announced on 1 June 2012, a German mail order company Versandhaus Walz will cut 200 jobs in Germany.
In total, Versandhaus Walz employs 1,300 people in Germany, 1,000 of them in Bad Waldsee, where most of the job cuts will take place. The company announced that 100 job cuts will affect employees on fixed term contracts, which are to expire. The other 100 jobs will be cut through natural wastage.
According to the Versandhaus Walz representatives, job cuts are necessary due to the increasing competition in online sales and the rapid digitalization of the business.
The exact timeline for the restructuring is yet to be announced.
Eurofound (2012), Versandhaus Walz, Internal restructuring in Germany, factsheet number 73739, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73739.