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 Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Information And Communication Equipment In Specialised Stores 47.43 - Retail sale of audio and video equipment in specialised stores
255 jobs Number of planned job losses
Announcement Date
10 March 2014
Employment effect (start)
10 March 2014
Foreseen end date
Description
Austrian computer retailer DiTech has filed for insolvency, thus making 60 to 92 out of its 254 employees redundant.
The restructuring programme foresees the closure of 10 out of the company’s 22 retail stores in all parts of Austria. The company, which has liabilities of EUR 30 million, hopes to save EUR 6.5 million annually with this measure. DiTech confirmed talks with investors.
Employees who are concerned by the job cuts have been given notices. As a precautionary measure, 120 employees have been registered with the Public Employment Service’s (AMS) early warning system; however the company hopes to only make 60 to 92 redundant. On 13 May 2014, the bailout plan will be voted on. Further information on the exact number of redundancies may then be available.
Update, 3 April 2014: Insolvent Austrian electronics company DiTech has been declared bankrupt as no investor was found. The closure of all 22 stores, which will affect 255 employees and the retailer has started closing down sales.
Sources
24 March 2014: Wirtschaftsblatt
25 March 2014: Kurier
25 March 2014: Die Presse
3 March 2014: Die Presse
Citation
Eurofound (2014), DiTech, Bankruptcy in Austria, factsheet number 76749, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76749.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
