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 mail-order shopping company Otto group will cut 270 jobs at the subsidiaries Otto-Versand, Baur-Versand and Schwab-Versand by 2015. 200 jobs will be cut at Otto, 60 at Baur and 10 at Schwab. This is another measure of the austerity programme "Fokus". Furthermore Otto aims to become a more competetive online-trading company.
In 2013 Otto group had 54.000 employees.
For previous restructurng see here.
Eurofound (2013), Otto, Internal restructuring in Germany, factsheet number 75562, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75562.