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.
Marks and Spencer has announced a further round of its plan which will see around 100 stores close by 2022. The latest announcement has named a further 17 stores, taking the total number up to 55, 30 of which have already closed. The latest plans will result in the loss of 1,045 jobs which are now subject to the statutory consultation process. There may be opportunities for redeployment for affected employees if other stores have current vacancies. The company intends to move a third of its sales online and plans to have fewer stores in better locations.
The previous round of restructures was announced in May 2018. The USDAW trade union has again criticised the retailer's 'piecemeal' approach to its restructuring programme.
Eurofound (2019), Marks and Spencer, Closure in United Kingdom, factsheet number 96662, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/96662.