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.
German chain of coffee retailers and cafes Tchibo will cut 350 positions at its headquarters in Hamburg by the end of 2017. The restructuring form spart of the company's saving programme "Fit for Grwoth" with which the company is planning to save €100 million. Tchibo aims to cut cost through staff cut backs and a reorganisation of staff structure.
According to the German newspaper “Lebensmittel Zeitung”, the number of job reduction will be 350 out of around 2,200 employees. Both Tchibo's food and non-food businesses will also be affected by the cut backs and future redundancies in these divisions have not been ruled out.
Tchibo was founded in 1949 in Hamburg by Carl Tchilinghiryan and Max Herz and still maintains its headquarters in the north of the city. Tchibo runs around 700 stores in Germany.
Eurofound (2015), Tchibo, Internal restructuring in Germany, factsheet number 84958, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84958.