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 In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
300 jobs Number of planned job losses
Announcement Date
15 October 2019
Employment effect (start)
11 October 2019
Foreseen end date
31 March 2020
Description
By the end of March 2020, the retail discounter Hofer will close their branch and warehouse in Loosdorf, Lower Austria, making 300 employees redundant. According to the company’s management, the restructuring will optimise Hofer's internal logistics. The management has also stated that the employees can relocate to other branches of the firm. The worker's council has been informed and a redundancy plan is being negotiated. The company will offer a compensation of four to eight monthly wages to employees who are not willing to relocate, depending on their age and job tenure. Employees with children will also receive a one-time additional payment.
Eurofound (2019), Hofer, Relocation in Austria, factsheet number 98962, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98962.
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