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 29 June 2017, the German department store chain Galeria Kaufhof announced the closure of two of its stores in Germany, resulting in 122 job cuts. The affected stores are located in Frankfurt with 69 employees and in Gera with 53 employees. The store in Gera will be closed by 17 September 2018 and in Frankfurt by 27 September 2019.
Galeria Kaufhof aims to find acceptable solutions for the affected employees that are tailored to the individual. Implementation of the layoffs is assumed to start soon.
As of June 2017, Galeria Kaufhof employs an estimated 21,500 staff members within 99 stores in Germany.
Eurofound (2017), Galeria Kaufhof, Closure in Germany, factsheet number 91446, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91446.