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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Leather And Related Products 15.2 - Manufacture of footwear
125 - 150 jobs Number of planned job losses
Announcement Date
8 July 2020
Employment effect (start)
8 July 2020
Foreseen end date
Description
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.
Sources
Citation
Eurofound (2020), Lloyd, Closure in Germany, factsheet number 101223, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101223.
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