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 supermarket chain Tesco announced its plans to close two hypermarkets in Mielec and Częstochowa, Poland, which will cause 200 redundancies. The jobs will be cut throughout a collective dismissal programme. The conditions of the redundancy programme will be negotiated with the local trade unions; dismissed workers will receive severance pay. The programme will be carried out between 17 July and 30 September 2020.
Moreover, on 18 June 2020, Tesco informed about the sale of its business in Poland. The buyer is Salling Group, owner of the retail grocery chain Netto. The transaction comprises 301 shops, distribution centres and headquarter. The company will try to sell the remaining properties not covered by the transaction, including 19 operating stores. In addition, in the last 18 months, Tesco has sold or agreed to sell over 20 stores. Tesco revealed that the decision was taken due to economic reasons.
Operating in Poland since 1992, the company has 320 stores and employs over 10,000 people across the country.
In 2019 and 2020, the company already announced six other restructuring programmes: January (1,300 jobs cut), June (1,480 jobs cut), August (2,154 jobs cut), September (2,117 jobs cut) November (224 jobs cut) and February 2020 (380 jobs cut).
Eurofound (2020), Tesco, Closure in Poland, factsheet number 101130, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101130.
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