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 Cultural And Recreation Goods In Specialised Stores 47.65 - Retail sale of games and toys in specialised stores
3,000 jobs Number of planned job losses
Announcement Date
14 March 2018
Employment effect (start)
Foreseen end date
24 April 2018
Description
Retailer Toys R Us has announced that it is to close its 100 UK shops, resulting in the loss of 3,000 jobs. The shop, which sells games and toys for children, had entered administration at the end of February and there were hopes that a buyer could be found. However, this latest announcement confirms that no buyer has been identified and the outlets will close. The first 25 stores are set to close the day after the announcement, with 541 job losses, and the remaining 75 stores will close over approximately a six week period. In addition to the job losses at the stores, 67 jobs will be lost when the head office in Maidenhead closes.
In December 2017, the British branch of Toys R Us announced an internal restructuring that would cut 800 jobs. However, the UK branch has entered administration recently due to the absence of a buyer.
UPDATE 12/04/2018: It has been confirmed that the remaining 75 Toys R Us stores will close on the 24th April 2018, with the loss of 2,054 jobs.
Sources
14 March 2018: The Guardian
14 March 2018: The Independent
12 April 2018: City AM
Citation
Eurofound (2018), Toys R Us, Bankruptcy in United Kingdom, factsheet number 93744, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93744.
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.
