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.
Selfridges, the British luxury department store has announced that it will cut 450 jobs, approximately 14% of its workforce.
The company’s managing director said the impact of the COVID-19 crisis had caused ‘fundamental changes’ in the organisation, making it necessary to save costs while investing more in online channels.
Selfridges was founded over a hundred years ago. It currently operates four department stores: in addition to the flagship store in London's Oxford Street, there are also two stores in Manchester and one in Birmingham, as well as the online shop.
Eurofound (2020), Selfridges, Internal restructuring in United Kingdom, factsheet number 101813, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101813.