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.
The German apparel manufacturer Gerry Weber confirmed the loss of 454 jobs in Germany due to internal restructuring. According to the company, 120 shops will be closed resulting in the loss of 300 employees. The remaining 154 jobs will be cut in the administration. The affected locations of the job reduction will be determined at a later point in time in cooperation with management and works council. The job reduction process will start as soon as possible and will be finished in 2021. The company will provide all affected employees with a social plan, including severance payments and transfer offers.
Overall, Gerry Weber will be closing 180 shops in Europe.
Gerry Weber has 6,487 employees worldwide.
Eurofound (2019), Gerry Weber, Closure in Germany, factsheet number 97567, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97567.