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.
As announced on 31 March 2021, the German consumer goods retailer MediaMarktSaturn, owned by German holding company Ceconomy, will be closing 13 of its 419 shops which will result in the loss of 1,000 jobs in Germany until September 2022. According to the management, the e-commerce part of the company’s sales doubled in 2020 due to the pandemic, making changes to the company necessary. As of today, it is unclear which shops will be closed, nor are information on a social plan available.
The restructuring programme in Germany is part of a Europe-wide restructuring programme including the reduction of 3,500 of 45,000 jobs announced in August 2020.
Eurofound (2021), MediaMarktSaturn, Closure in Germany, factsheet number 104578, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104578.