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.
On 6 November 2014, book retail chain Weltbild announced the further cutting of 200 jobs. 100 employees will be dismissed before Christmas and the remaining 100 be dismissed by February 2015.
Weltbild had filed for bankruptcy and therefore has already dismissed around 600 people (see FS 2014). As reported by several newspapers, approximately 1,000 people have already been dismissed by Weltbild. As a result, 2,600 employees currently remain employed by the company.
The Droege Group, as new investor, had promised not to cut further jobs until July. The works council is thus complaining about the announcement that jobs will be cut both this year and early next year. Droege stated that Weltbild had failed to comply with the restructuring plan, making additional reductions necessary.
Eurofound (2014), Weltbild, Merger/Acquisition in Germany, factsheet number 77848, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77848.
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