Fashion
Adidas is selling its subsidiary brand Reebok. The sneaker brand is not doing well, and Adidas wants to concentrate fully on its own brand.
» Read more
Food
Heineken is letting go of 8,000 employees, representing around 10 per cent of the entire workforce. After all, the brewing giant still expects little recovery from the Covid crisis in 2021.
Cosmetics
Cosmetics brand Yves Rocher is closing its outlets in the Netherlands: all seven brick-and-mortar stores will close this year, but the webshop will remain open.
Perfumery chain Douglas is reportedly planning to close 500 of its 2,400 European stores. The German retailer had previously announced it would be taking a critical look at its store network.
Coca-Cola is restructuring due to the coronavirus pandemic. The number of brands and business units is decreasing. The reorganisation will cost 2,200 employees their jobs.
(update) Danone is reorganising, resulting in 1,500 to 2,000 office employees losing their job. The FMCG company is transforming into a 'local first' organisation, with fewer management layers and greater local autonomy.
FrieslandCampina is cutting nearly a thousand jobs because of the coronavirus crisis. Employees in the Netherlands, Belgium and Germany are particularly affected.
General
Sainsbury's is going to close 420 branches of non-food subsidiary Argos and remove all its service counters for meat and fish from supermarkets. The operation threatens 3,500 jobs.
Beer brewer Heineken saw its sales drop sharply as a result of the corona crisis. Although the third quarter showed improvement, the outlook remains uncertain, which is why the company is making redundancies.
(update) Gap plans to leave Europe: the American clothing chain announces the possible closure of all its stores on the European continent. Nearly 120 stores are affected by the decision.
Electronics
Ceconomy, the holding company behind MediaMarkt and Saturn, is recovering from the corona crisis faster than expected. The German company is raising its forecasts for this financial year, although thousands of jobs are still at risk.
The creditors of the German department store chain Galeria Karstadt Kaufhof agree to the restructuring plans, renouncing billions of euros in debts. Nearly 50 stores and 5,000 jobs will be lost.
Another drama hits the British high streets: retailer Marks & Spencer is to cut an additional 7,000 jobs in the next three months, one in ten of the chain's total jobs. Especially its fashion department took a bad hit from the Covid-19 pandemic.
Ceconomy (the former Metro branch that owns electronics chains Media Markt and Saturn) has announced a thorough restructuring, which may cause up to 3,500 jobs being cut and several stores closed all over Europe.
The Covid-crisis accelerates the reorganisation plans at Marks & Spencer: the British retailer wants to make three years of progress in one year, at the cost of another 950 jobs.
(update) French fashion chain Promod is reducing the size of its foreign activities. The German branch has started an insolvency procedure, the Belgian stores are also being looked into. However, only one Belgian store is closing.
