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 Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale Trade, Except Of Motor Vehicles And Motorcycles 46 - Wholesale trade, except of motor vehicles and motorcycles
450 jobs Number of planned job losses
Announcement Date
2 July 2008
Employment effect (start)
Foreseen end date
31 December 2008
Description
On 2 July 2008, the mail order company Neckermann announced to cut 450 out of 3500 jobs in Germany. The company stated that the job reduction was part of its restructuring programme. The restructuring programme aims at cost savings worth EURO 50 million in 2008 and a return to the profit zone by 2010. Apart from the job reduction scheme, Neckermann restructures its advertisement activities. Furthermore, parts of its Austrian headquarters for Eastern Europe in Graz will be transferred to Frankfurt and foreign warehouses will be closed.
Sources
3 July 2008: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2008), Neckermann, Internal restructuring in Germany, factsheet number 66809, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66809.
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