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.
Cyprus, Greece, Bulgaria, Hungary, Sweden, Germany (plus other countries worldwide)
Sector
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14 - Manufacture of wearing apparel
450 jobs Number of planned job losses
Announcement Date
14 February 2013
Employment effect (start)
1 February 2013
Foreseen end date
Description
On 14 February 2013, Puma, a leading sport lifestyle company with headquarters in Germany, announced its plans to lay off 450 employees. According to a company statement, these employment reductions are currently being carried out.
The job reduction measures form part of the company’s ongoing cost reduction strategy which includes the closure of around 90 stores as well as restructuring of its businesses in Cyprus, Greece and Bulgaria. In addition, two of the company’s warehouses in Sweden and Hungary will be closed. Puma currently employs more than 11,000 employees worldwide and operates across 110 countries.
Sources
14 February 2013: Focus
14 February 2013: Bayerischer Rundfunk
Citation
Eurofound (2013), Puma, Internal restructuring in European Union, factsheet number 74918, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74918.
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