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 47.75 - Retail sale of cosmetic and toilet articles in specialised stores
400 jobs Number of planned job losses
Announcement Date
3 November 2019
Employment effect (start)
3 November 2019
Foreseen end date
Description
The Norwegian retail company, Vita, which specialises in selling cosmetics and toilet articles, will cut 400 jobs in 99 stores in Norway. The previous owner of Vita, Cosmetic Group, went bankrupt in October 2019. The new owner, Jotunfjell Partners, is determined to continue the operations of Vita and the downsizing is part of a strategic cut, according to the General Manager. The company has not announced an official redundancy plan yet and there is no reference to the trade union’s opinion on the matter, but the retail sector generally has a low trade union density. In Norway, Vita will continue its business in 132 stores, from previous 231.
Eurofound (2019), Vita, Merger/Acquisition in Norway, factsheet number 99019, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99019.
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