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.
Polish clothing retailer LPP has announced that it will increase its workforce by 4,000 jobs at the units across Poland by the end of 2021. LPP want to create 1,000 new jobs in every year of the four-year programme (2018-2021), therefore it announced the creation of 1,000 jobs for 2019. The programme is associated with the company’s plan to increase its revenue from PLN 7.03 billion (€1.64 billion) in 2017 to PLN 10.5 billion (€2.4 billion) in 2021. According to the plan, the company will invest PLN 1.5bn (€0.34 billion) on expanding its retail network.
LPP was founded in 1995 and currently owns 5 clothing brands (Reserved, Cropp, House, Mohito, Sinsay) and has over 1,740 stores in 18 countries, including Poland, Russia, Ukraine, Latvia, Lithuania, Estonia, Czech Republic, Slovakia, Bulgaria, Croatia, Hungary, Romania and Egypt. The company employs about 25,000 people.
In 2017, the company announced a restructuring programme resulting in the creation of 1,000 jobs in 2018. It constituted the first step of the four-year programme.
Eurofound (2018), LPP, Business expansion in Poland, factsheet number 94424, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94424.
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