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.
Shoe manufacturer Lloyd announced its plans to cut between 125 and 150 jobs in Sulingen (Lower Saxony). The premium shoe manufacturer will close down its factory in Sulingen and took up negotiation with the works' council on how to realise redundancies and on setting up a transfer agency. Not affected by this step is the Lloyd's administration department also located in Sulingen. The company suffers from loss of demand for premium shoes due to the lockdown of stores during the COVID-19 pandemic. The company also announced to realign its business by focusing on key markets and looking for new product channels. Lloyd is an affiliate of Ara shoes and employed nearly 2,000 employees worldwide in 2019. So far, there is no news on the timeframe for job redundancies.
Eurofound (2020), Lloyd, Closure in Germany, factsheet number 101223, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101223.