Clothing retail chain Esprit announced it will cut 1,100 jobs in Germany and close down half of its stores. Affected are 800 employees working in Esprit stores and another 300 employees working in administration. In addition, some 100 jobs will be lost in Asia. The company had filed for insolvency in March 2020 after heavy losses during the COVID-19 pandemic. Job cuts are currently negotiated with the works' council. Whilst around 50 stores will be closed by the end of November 2020 in Germany, the company seeks to save the other half of its stores with a restructuring programme reducing costs.