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.
Swedish furniture giant retailer Ikea has announced 7,500 job cuts around the world as Ikea has to adapt to rapidly changing consumer trends. According to Ikea's parent company Ingka, the job cuts represent about 5% of its 160,000 workforce and will mainly affect its offices and 'global operations' across 30 countries.
Ikea, via Ingka, will simultaneously recruit 11,500 people within two years to respond to digital opportunities and the opening of outlets in city centres. Finally, the reorganisation could lead to a net job creation of 4,000 positions. This strategy responds to a change of lifestyle observed as 'fewer people' have a car and 'more and more people are moving into smaller homespaces', according Ingka's CEO. The group has already announced this year 700 job cuts at EU level. In November 2018, national level announcement have been made in Sweden (650 job cuts), in the UK (350 job cuts), and in Belgium (100 jobs).
Eurofound (2018), Ikea, Internal restructuring in World, factsheet number 95929, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95929.