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 e-commerce clothing and accessories retailer Boozt announced that they would effectivise their workforce by using AI-tools across their value chain. These effectivisations have, according to a company press release, paid off, making it possible for the company to streamline operations by dismissing about 10% of their workforce.
The dismissals are set to be implemented in Q1 of 2025. The goal of these workforce reductions is to reach a long-term profitability increase of 10%.
The company is negotiating the precise number of dismissed personnel during the first months of 2025.
Update 2025-03-15
The cooperation negotiations at Boozt were concluded in February, 2025. The company has laid off 20% of its white-collar staff rather than the 10% or approximately 100 persons it originally announced. Company representatives are unwilling to publicise the exact number of dismissals.
Eurofound (2025), Boozt, Internal restructuring in Sweden, factsheet number 202192, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202192.