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.
On 19 April 2006, home shopping company Neckermann (part of the German KarstadtQuelle-concern) announced a reduction of 100 jobs in Hulst and Terneuzen. Neckermann has a total of over 800 employees and an annual turnover of 250 million euro. Reasons are the losses in 2005 and the expected consequences of the decision of the minister of finance (Zalm) to reduce the maximum credit interest rate from 21 to 16%. Neckermann intends to commit itself fully to retail through the internet and has therefore added .com to its name.
Eurofound (2006), Neckermann, Internal restructuring in Netherlands, factsheet number 63392, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63392.