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.
Supermarket chain Tesco announced the loss of 4,500 job positions across its 153 'Metro' stores. The company pointed to increasing market competition from discount chains and to changing habits of customers that prefer convenience to weekly shopping. According to the company, the job cut aims at simplifying and reducing process and administrative tasks. Indeed, there are plans to introduce changes to stock procedures that are expected to reduce stocking in backrooms. As a result, these changes will result in a leaner management structure and will require more flexible working hours. The announcement has not been given a timeframe for the changes to take effect, but the latter will be subject to the statutory period of consultation.
Trade union USDAW conveyed its members' disappointment and shock at the decision, particularly as the announcement follows a previous loss of 9,000 job positions in January 2019.
Eurofound (2019), Tesco, Internal restructuring in United Kingdom, factsheet number 98274, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98274.