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.
High street retailer Marks and Spencer has announced that it is to close 14 more stores which will affect 872 jobs. The stores are at various locations across England and Wales. The decision to close the latest 14 stores is part of a larger restructuring which will see over 100 stores close by the end of 2022. Reports so far have not indicated the full effect on jobs which is expected to result from the closure of the 100 plus stores.
Previous cases of restructruring happned in April 2018 (450 jobs) and January 2018 (468 jobs).
A spokesperson for the company argued that the closures were vital for the future of the business, whereas the USDAW trade union accused the company of 'salami slicing'.
Eurofound (2018), Marks and Spencer, Closure in United Kingdom, factsheet number 94382, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94382.