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 In Non-Specialised Stores 47.19 - Other retail sale in non-specialised stores
400 jobs Number of planned job losses
Announcement Date
8 February 2018
Employment effect (start)
8 February 2018
Foreseen end date
8 February 2020
Description
The German department store chain Galeria Kaufhof announced it will cut 400 of 1,600 jobs at its headquarter in Cologne by 2020 due to internal restructuring. Kaufhof has been posting losses in the last years and is trying to enhance its competitiveness in the market. To that end, Kaufhof aims to reduce its personnel costs, which are far above the international average. The company plans to avoid operational terminations and hopes to achieve the job reduction measurement by natural fluctuation and early-retirement programmes.
Sources
8 February 2018: Kölner Stadt-Anzeiger (online)
8 February 2018: FAZ (E-Paper)
Citation
Eurofound (2018), Galeria Kaufhof, Internal restructuring in Germany, factsheet number 93263, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93263.
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