Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2013), Puma, Internal restructuring in European Union, factsheet number 74918, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74918.