Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale In Non-Specialised Stores
47.1 - Retail sale in non-specialised stores

300 jobs
Number of planned job losses
Job loss
Announcement Date
9 July 2004
Employment effect (start)
9 July 2004
Foreseen end date
31 December 2005

Description

Metro's department store unit Kaufhof plans to add new product ranges to boost sales and shed jobs to counter continuing revenue declines, according to unnamed company sources. Kaufhof will cut some 300 of the 1,800 jobs at its headquarters by 2005. Metro Chief Executive Hans-Joachim Koerber unveiled plans in spring to eliminate jobs at the headquarters, though he didn't provide figures.


Sources

  • 9 July 2004: Financial Times Deutschland

Citation

Eurofound (2004), Kaufhof, Internal restructuring in Germany, factsheet number 60563, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60563.