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.
Clothing retail companies, Brown Thomas and Arnotts, are seeking to reduce their workforce by 150 people, due to the impact the COVID-19 pandemic has had on their sales.
Both retailers, part of the Selfridges Group, will first consider voluntary redundancies of up to 150 workers, as their trading has not recovered to pre-COVID-19 levels. Management said they were also open to other options such as shorter working time, career breaks and early retirement, with a view to align business requirements and staffing needs.
While the retailers experienced strong online sales, this has not compensated for the loss of in-store trading during the closure period (April to June) as well as the reduced in-store sales since reopening.
Eurofound (2020), Brown Thomas and Arnotts, Internal restructuring in Ireland, factsheet number 101549, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101549.
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