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.
The Norwegian retail company Elkjøp specialised in electrical household appliances cuts 12% staff costs, mainly in stores and at the headquarters. The restructuring is due to fall in demand as a result of high prices. The company experienced an upswing during the pandemic, but after the pandemic, the industry has experiences difficulties. Costs were cut in 2022, but additional measures are needed to recover financially. A trade union representative in the Union of Employees in Commerce and Offices (HK) states that the members are uncertain about the future and their financial situation. In the 13 stores with a collective agreement, the seniority principle will be important in the downsizing process, according to the trade union representative.
Elkjøp is one of the largest retail companies in electronics in the Nordic countries.The company was established in 1962 and is owned by the British Currys, one of Europe's largest retail companies. Before the downsizing, about 3000 employees work for Elkjøp in Norway.
Eurofound (2023), Elkjøp, Internal restructuring in Norway, factsheet number 108438, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108438.