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 Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale Of Household Goods 46.42 - Wholesale of clothing and footwear
50 jobs Number of planned job losses
Announcement Date
19 April 2018
Employment effect (start)
1 May 2018
Foreseen end date
31 December 2018
Description
The Japaneese clothing retailer group Fast retailing, has announed an employment safeguard plan to cut about 50 positions in its Parisian headquarter out of a total workforce of 400 employees. The management of Fast retailing (owner of the brand Uniqlo) has decided to increase the competitiveness of its two French brand, Comptoire des contonniers and Princesse Tam-Tam, bought respectively in 2005 and 2006. The job reductions plan focuses mainly on managers of the two brands which are coping with profit losses. The group has already tried to reduce costs by closing a number of shops in 2016 and 2017.
Sources
19 April 2018: Challenges
13 April 2018: Fashion Network
Citation
Eurofound (2018), Fast Retailing, Internal restructuring in France, factsheet number 93972, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93972.
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