Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Cultural And Recreation Goods In Specialised Stores
47.61 - Retail sale of books in specialised stores

200 jobs
Number of planned job losses
Job loss
Announcement Date
6 November 2014
Employment effect (start)
6 November 2014
Foreseen end date
31 January 2015

Description

On 6 November 2014, book retail chain Weltbild announced the further cutting of 200 jobs. 100 employees will be dismissed before Christmas and the remaining 100 be dismissed by February 2015.

Weltbild had filed for bankruptcy and therefore has already dismissed around 600 people (see FS 2014). As reported by several newspapers, approximately 1,000 people have already been dismissed by Weltbild. As a result, 2,600 employees currently remain employed by the company.

The Droege Group, as new investor, had promised not to cut further jobs until July. The works council is thus complaining about the announcement that jobs will be cut both this year and early next year. Droege stated that Weltbild had failed to comply with the restructuring plan, making additional reductions necessary.

The restructuring at Weltbild had already begun in autumn 2013 when the ERM reported on 140 announced job losses.


Sources

  • 7 November 2014: Sueddeutsche Zeitung
  • 6 November 2014: Mittelbayerische Zeitung Online
  • 11 November 2014: Frankfurter Rundschau Online

Citation

Eurofound (2014), Weltbild, Internal restructuring in Germany, factsheet number 77848, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77848.