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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
390 jobs Number of planned job losses
250 jobs Number of planned job creations
Announcement Date
24 October 2017
Employment effect (start)
Foreseen end date
Description
Fashion retailer New Look has announced plans to cut 390 jobs from across its network of 593 UK stores. The move follows consultation over around 1,000 roles. After the consultation 390 deputy store manager and sales manager roles will be made redundant, as the retailer bids to achieve a different balance between senior and junior roles. 430 staff have been retained, around 100 staff resigned and 20 have been offered deferred redundancy. New Look will also seek to recruit 250 supervisors with many expected to come from the 390 redundancy pool.
Sources
24 October 2017: Retail Week
25 October 2017: Retail Gazette
24 October 2017: Drapers
Citation
Eurofound (2017), New Look, Internal restructuring in United Kingdom, factsheet number 92387, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92387.
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