Hit by the coronavirus, H&M has announced a strong adjustment in the Spanish market. The Swedish fashion distribution company, number two in the world by turnover after Inditex, announced yesterday its intention to initiate an Employment Regulation File (ERE) in Spain, which will affect a maximum of 1,100 employees, which it represents around 17% of its total workforce of about 6,200 workers between stores and warehouses. In addition, it announced that it will carry out a "substantial" modification of the working conditions and that it will close 30 stores, of its 155 establishments in the cou
Hit by the coronavirus, H&M has announced a strong adjustment in the Spanish market. The Swedish fashion distribution company, number two in the world by turnover after Inditex, announced yesterday its intention to initiate an Employment Regulation File (ERE) in Spain, which will affect a maximum of 1,100 employees, which it represents around 17% of its total workforce of about 6,200 workers between stores and warehouses. In addition, it announced that it will carry out a "substantial" modification of the working conditions and that it will close 30 stores, of its 155 establishments in the country. The firm explained that the retail industry is experiencing "a great change", as a result of digitization, changes in consumer behavior and the "constant" growth of the online channel. In this context, the company specifies that it is in a global transformation and reorganization process and that it intends to adapt its operations and structure "creating a more efficient organization, seeking to further integrate physical and online stores, so it will make the necessary changes in stores to create a better "omnichannel" experience for your customers. In Spain, and within the global restructuring plan, it will reorganize its teams and close 30 stores, of which 27 will be from H&M and three from COS. The closures are scheduled to take place "in a staggered fashion" during 2021, although the company admits they could last until 2022. Around the world it will close 350 facilities. On the other hand, it will open 100 stores but only in the markets that it considers emerging. The textile company has informed the legal representation of the workers today. The negotiation table is scheduled to begin on April 23. The CC OO union, the majority in the company, points out in a note that both the number of people affected and the number of store closures "is absolutely disproportionate." He points out that, in addition to the announced closures, another 94 stores would be affected by
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Keywords: coronavirus, covid19, crisisofh&, economiccrisisofh&, epidemic, ere, erte, lowcost, madrid, pandemic, spain, spanishcrisis, spanishjobs, spanishworkers, sweden
