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 tableware manufacturer WMF group announced plans to cut up to 600 jobs.
According to the sources WMF group is to close 50 stores by the end of 2014 with the consequent loss of up to 390 jobs. As reported, the job reduction measure is part of the group’s “strategic transformation programme” due to a decline in sales in 2013, aiming to improve its market position internationally. The job reduction measure could affect stores in Germany, Austria and Switzerland.
In addition, the group has also announced plans to restructure by the end of 2015 its logistics division and centralise its activities in two facilities in Germany. There will be negotiations with the works council in the next months. As announced the plan envisages approximately 400 further job cuts. It is not clear yet in which countries the cost cutting measure will take place; WMF group employs in total 470 people at its logistics division. As reported, according to IG Metal, 170 jobs are at stake in Geislingen in Germany.
A large protest was held on 22th May against the proposed job cuts.
Eurofound (2014), WMF, Internal restructuring in World, factsheet number 77159, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77159.