Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale In Non-Specialised Stores
47.1 - Retail sale in non-specialised stores

1,100 jobs
Number of planned job losses
Job loss
Announcement Date
16 October 2014
Employment effect (start)
1 November 2014
Foreseen end date
31 December 2015

Description

The management of the US company, Office Depot, has announced a European reorganisation plan affecting 1100 jobs. The aim of the restructuring is to reduce annual costs by about $90 million by the end of 2016. The company has reported a loss in five out of the last six years. The office supplier has stated that this is due to competitive pressures and difficult economic conditions in the region.


Sources

  • 16 October 2014: Reuters

Citation

Eurofound (2014), Office Depot, Internal restructuring in European Union, factsheet number 77824, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77824.