Location of affected unit(s)
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Trade, Except Of Motor Vehicles And Motorcycles
47 - Retail trade, except of motor vehicles and motorcycles

300 jobs
Number of planned job losses
Job loss
Announcement Date
22 September 2006
Employment effect (start)
1 October 2006
Foreseen end date


Only a few days after the acquisition of Cosmos, which runs a chain of 27 electrical stores throughout the country, by the Austrian Value Management Services group and the German Nordwind Capital company, the new owners announced their plans to reduce considerably the firm’s workforce. The Cosmos works council confirmed these plans by stating that the new management has already sent written notification of the planned dismissal of 300 out of currently 1,400 employees to the Labour Market Service. Accordingly, job reduction will be effective already in October 2006. The employee representatives also stated that the management plans to set financial incentives for the employees concerned in order to prevent possible proceedings. The works council has urged the management to enter negotiations on a social plan to avoid cases of ‘hardship’.


  • 22 September 2006: Wirtschaftsblatt
  • 22 September 2006: Der Standard


Eurofound (2006), Cosmos, Merger/Acquisition in Austria, factsheet number 64154, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64154.