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.
By the end of March 2020, the retail discounter Hofer will close their branch and warehouse in Loosdorf, Lower Austria, making 300 employees redundant. According to the company’s management, the restructuring will optimise Hofer's internal logistics. The management has also stated that the employees can relocate to other branches of the firm. The worker's council has been informed and a redundancy plan is being negotiated. The company will offer a compensation of four to eight monthly wages to employees who are not willing to relocate, depending on their age and job tenure. Employees with children will also receive a one-time additional payment.
The Loosdorf branch was established in 2004.
Eurofound (2019), Hofer, Closure in Austria, factsheet number 98962, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/98962.