EMCC European Monitoring Centre on Change

PicWicToys

Company/Organisation:
PicWicToys

Geographic Location

Country: France

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.65 - Retail sale of games and toys in specialised stores
Number Employed: 1237
Group: Luderix International

Employment Effects

Announcement Date: 02-06-2020
Planned Job Reductions min: 447
Planned Job Reductions max: 447
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-09-2020
Foreseen End Date: 31-12-2020

Additional Information

The toys retailer PicWicToys has announced a regorganisation that will lead to 447 job cuts from a total workforce of 1,237 employees. The announcement arrives less than a year after Luderix International, the parent company of PicWicToys, took over the French Toys'r Us stores. This restructuring is mainly due to a 14% drop in its turnover following the social movements at the end of 2019 ("gilet jaunes" ) and the coronavirus crisis. The restructuring will involve "closure of a warehouse unsuited to current needs", the closure of one of its two central purchasing units and the closure of 23 stores out of a total of 63. 'The company indicated that it intends to accelerate the implementation of its new business and economic model based on digital technology and in-store customer experience'.

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