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.
Clothing retailer Gerry Weber announced plans to cut about 700 jobs worldwide. A total of 200 job cuts will affect the company’s head office located in Halle. Further dismissals will take place in the domestic and foreign market due to a consolidation of the company's branch network. As part of a new company structure, the company decided to close 103 stores by 2017.
Job cuts are due to internal restructuring with the company wanting to become more competitive and to avoid inefficiency. Gerry Weber is suffering from decreasing customer numbers as younger people prefer competitors or online stores. The management emphasises the importance of socially acceptable redundancies but negotiations with the works council are still in its early stages.
Gerry Weber, headquartered in Halle, currently employs about 7,000 staff worldwide.
Eurofound (2016), Gerry Weber, Internal restructuring in Germany, factsheet number 86596, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86596.