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 On A Fee Or Contract Basis 46.19 - Agents involved in the sale of a variety of goods
3,700 jobs Number of planned job losses
Announcement Date
13 August 2009
Employment effect (start)
13 August 2009
Foreseen end date
31 January 2010
Description
On 13 August, Arcandor announced to cut around 3,700 jobs at its affiliate Primondo/Quelle, mainly known for its catalogue business. After Arcandor had filed for insolvency in June 2009, the insolvency administrator plans to drastically reduce the cost structure at Primondo/Quelle; thereby trying to make it more attractive to new investors. The 109 Quelle Technology Centres are to be closed. All of them are reporting losses. The number of Quelle shops is to decrease from currently 1,450 to around 1,000. All in all, job downsizing amounts to 3,700 jobs (out of 10,500). The job reduction scheme is to be implemented by January 2010. The labour office was notified.
Sources
14 August 2009: Financial Times Deutschland
Citation
Eurofound (2009), Primondo / Quelle, Internal restructuring in Germany, factsheet number 69399, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69399.
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