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.
John Lewis Partnership, the British retailer has announced it will permanently close eight John Lewis stores, making 1,300 employees redundant. The consultation process with affected staff has already started. The stores which will be closed are located in: Birmingham, London (3 stores), Newbury, Swindon, Tamworth and Watford.
A statement by the company said the stores had already struggled financially before the COVID-19 crisis started in March 2020 and the closures are part of the business's strategic review.
According to the company, some initiatives are going to be taken to support the affected workers. Among them, a three-month programme involving an outplacement specialist for all the staff laid off. In addition, the workers with two years of service or more will benefit of a contribution for a qualification course, while a redundancy pay package will be provided to those that worked for John Lewis Partnership for at least one year.
The John Lewis Partnership operates John Lewis & Partners department stores, Waitrose & Partners supermarkets, banking and financial services, and other retail-related activities. It employs about 84,000 people.
Eurofound (2020), John Lewis Partnership, Closure in United Kingdom, factsheet number 101417, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101417.
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