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 47.1 - Retail sale in non-specialised stores
872 jobs Number of planned job losses
Announcement Date
22 May 2018
Employment effect (start)
31 July 2018
Foreseen end date
Description
High street retailer Marks and Spencer has announced that it is to close 14 more stores which will affect 872 jobs. The stores are at various locations across England and Wales. The decision to close the latest 14 stores is part of a larger restructuring which will see over 100 stores close by the end of 2022. Reports so far have not indicated the full effect on jobs which is expected to result from the closure of the 100 plus stores.
Previous cases of restructruring happned in April 2018 (450 jobs) and January 2018 (468 jobs).
A spokesperson for the company argued that the closures were vital for the future of the business, whereas the USDAW trade union accused the company of 'salami slicing'.
Sources
22 May 2018: The Telegraph
22 May 2018: Shropshire Star
Citation
Eurofound (2018), Marks and Spencer, Internal restructuring in United Kingdom, factsheet number 94382, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94382.
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.
