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.
Cycloon, a Dutch company operating in the delivery sector, has announced that the jobs of 440 people will be cut following the closure of sixteen bicycle courier locations and its central parcel sorting centre.
The reason behind this restructuring mainly relates to the market Cycloon operates in. The company has stated that it can no longer compete with others in the market, as per inflation and faster-growing competitors. Cycloon has also stated that they will only proceed with the delivery of packages that fit in the mailbox. As a consequence, sixty-eight full-time jobs will be cut.
Cycloon is owned by web-shop giant Bol.com.
As of September 2024, it is unknown when the restructuring will be implemented by.
Eurofound (2024), Cycloon, Closure in Netherlands, factsheet number 201687, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201687.