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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
1,000 jobs Number of planned job losses
Announcement Date
5 September 2006
Employment effect (start)
Foreseen end date
31 December 2008
Description
On 5 September 2006, Edeka, one of Germanys leading discounters, announced the restructuring of its subsidiary company Marktkauf. According to Edekas director, Marktkauf shall break even by 2008. To reach this goal, Marktkauf has to reduce its costs by 120 million euro till 2008. Therefore, 150 building centres belonging to Marktkauf will be sold. Under these circumstances, 1,000 out of the 17,000 jobs are to be lost. Its already known that out of the 1,000 jobs, between 300 and 400 jobs will be cut within the administration department of Marktkauf.
Sources
6 September 2006: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2006), Marktkauf, Internal restructuring in Germany, factsheet number 64044, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64044.
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