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.
The French textile manufacturer and retailer Promod announced a restructuring that will lead to 133 job losses, through voluntary departures or forced dismissals if there are not enough volunteers. The group will also close 180 unprofitable shops outside of France out of a total of 640. However, Promod also indicated it would open 15 to 20 new shops in France per year in coming years, where it currently has 357 shops. Promod will mainly cut positions in its headquarters at Marcq-en-Baroeul (Nord) with about 60 job cuts from a total workforce of 431 positions and its logistics sites with about 70 job cuts in its sites at Wattrelos, Lys-lez-Lannoy, Hem and Mons-en-Baroeul from a total workforce of 342 employees. Promod employs 6,000 employees worldwide including 2,700 in France, and had a turnover of about €668 million in 2015.
Eurofound (2016), Promod, Internal restructuring in France, factsheet number 87636, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87636.
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