Brief: Gerry Weber Reaches Collective Wage Agreement

Gerry Weber International AG

05/04/2019 15:14

April 5 (Reuters) - Gerry Weber International AG  GWIG.DE :
    * DGAP-NEWS: GERRY WEBER REACHES AGREEMENT ON KEY ASPECTS
FOR
FUTURE-SECURING COLLECTIVE WAGE AGREEMENT AS WELL AS
RECONCILIATION OF INTERESTS AND SOCIAL PLAN
    * NEXT MILESTONE IN ONGOING RESTRUCTURING AND REPOSITIONING
PROCESS
    * CLOSURE OF AROUND 120 STORES AND SALES SPACES IN GERMANY
    * REDUNDANCY OF 454 FTE IN GERMANY
    * CORRESPONDING AGREEMENTS WERE SIGNED FOR EMPLOYEES OF
GERRY
WEBER INTERNATIONAL AG (GWI) AND GERRY WEBER RETAIL GMBH & CO.
KG (GWR), AS WELL AS EMPLOYEES OF LIFE-STYLE FASHION GMBH
(WHOLESALE BUSINESS)
    * AGREEMENTS GOVERN FUTURE COLLECTIVE WAGE AGREEMENT TO
SECURE
FUTURE OF GERRY WEBER, AS WELL AS RECONCILIATION OF INTERESTS
AND SOCIAL PLAN FOR IMPLEMENTATION OF PLANNED RESTRUCTURING
MEASURES
    * MEASURES IN LINE WITH AGREEMENTS WILL BE IMPLEMENTED
IMMEDIATELY
AND ARE EXPECTED TO CONTINUE UNTIL PLANNED CLOSURE OF
REPOSITIONING BY END OF 2021
    * COMPANY CONTINUES TO FOLLOW ITS INITIAL RESTRUCTURING
PLAN,
WHICH INCLUDES PLANNED CLOSURE OF AROUND 180 STORES (EXCLUDING
HALLHUBER) AND REDUNDANCY OF A CORRESPONDING NUMBER OF FTE
ACROSS EUROPE

Source text for Eikon:  ID:nEQ9LK6jwa 
Further company coverage:  GWIG.DE 

 (Reporting by Riham Alkousaa)
 ((Riham.Alkousaa@thomsonreuters.com;))