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.
Germany-based perfume and cosmetics retailer Douglas has announced that it will cut 2,500 jobs in Europe, mainly in southern Europe and Germany, by autumn 2022. So far, the company announced cuts in France (350 jobs), Germany and Spain (600 jobs). The conditions of the programme will be negotiated with employees’ representatives according to local regulations.
Under the restructuring programme, the chain is to close about 500 out of 2,400 stores in Europe and focus on its e-commerce division, which has generated growing profits during the COVID-19 pandemic; Douglas reported sales of €1 billion via its e-commerce platform in 2020.
Douglas was founded in 1821 in Germany and currently, the retailer operates in 21 countries.
Eurofound (2021), Douglas, Closure in European Union, factsheet number 103595, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103595.
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