Type
Internal restructuring
Country
Germany
Region
Baden-W├╝rttemberg; Stuttgart; Rems-Murr-Kreis
Location of affected unit(s)
Winterbach
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Other Goods In Specialised Stores
47.71 - Retail Sale Of Clothing In Specialised Stores

400 jobs
Number of planned job losses
Job loss
Announcement Date
2 January 2024
Employment effect (start)
1 February 2024
Foreseen end date

Description

As announced on 02 January 2024, the German fashion retailer Peter Hahn will be cutting 400 jobs at its site in Winterbach due to internal restructuring.

After filing for insolvency in October 2023, Peter Hahn announced its restructuring plan at the start of the new year. The plan entails that Peter Hahn will be separated from the group structure of the Munich-based fashion company TriStyle and continuing as an independent company.

Peter Hahn is optimistic to continue operations in the long-term. As part of the restructuring, Peter Hahn will let go 400 of its 1,000 employees at its site in Winterbach. Negotiations on the job cuts with the works council are still ongoing. The restructuring plan will be implemented step by step, starting in February 2024.


Sources

Citation

Eurofound (2024), Peter Hahn, Internal restructuring in Germany, factsheet number 200673, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200673.