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.
Wholesale / Retail 47 - Retail trade 47.1 - Non-specialised retail sale 47.1 - Non-specialised retail sale
1,700 jobs Number of planned job losses
Announcement Date
12 September 2005
Employment effect (start)
1 October 2005
Foreseen end date
31 December 2005
Description
Spar, a supermarket chain, will cut more than half of its workforce after the takeover by Edeka. A spokesperson for Edeka said that the cuts were needed to become profitable in the German retail market that is characterised by stiff competition and very low margins. Several locations, among them logistics hubs, will be given up and closed.
Sources
12 September 2005: Financial Times Deutschland
Citation
Eurofound (2005), Spar, Merger/Acquisition in Germany, factsheet number 62222, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62222.
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