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 Household Equipment In Specialised Stores 47.5 - Retail sale of other household equipment in specialised stores
2,300 jobs Number of planned job losses
Announcement Date
28 November 2013
Employment effect (start)
28 November 2013
Foreseen end date
Description
DIY chain Max Bahr, a subsidiary of insolvent Praktiker, is to cut up to 2,300 jobs in Germany. This is due to insolvency.
In total, Max Bahr employs 3,600 people in 74 stores. 24 stores will be acquired by German DIY chain Bauhaus and 1,300 jobs will be safeguarded.
The company filed for insolvency in July, just after its parent company Praktiker. Attempts to find an investor failed in November.
UPDATE 04-12-2013: DIY chain Hagebau announced the acquisition of 7 additional Max Bahr stores, of which 4 in Hamburg and one in Rostock, Luebeck and Neumuenster. As to date, it is unclear, how many jobs the take-over will save.
Sources
4 December 2013: tagesschau
4 December 2013: n-tv
28 November 2013: manager magazin
29 December 2013: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2013), Max Bahr, Bankruptcy in Germany, factsheet number 76294, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76294.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
