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 19 October 2016, the daily Die Welt reported on the restructuring plans at the perfume and jewellery retail chain Douglas. Douglas had announced a restructuring plan, which includes 139 job cuts. The company wants to relocate its headquarter from Hagen to Düsseldorf. 550 staff members, who were working earlier in Hagen and Cologne, will now be working at the new headquarter. Due to the relocation there are 78 employees affected in Hagen and another 51 in Cologne. 400 of the staff members will continue working for Douglas in Hagen. The site in Cologne will be closed. The company wants to reduce double structures and become more competitive. Furthermore, Douglas also announced further 150 job cuts in Europe.
Eurofound (2016), Douglas, Relocation in Germany, factsheet number 89099, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89099.