Type
Internal restructuring
Country
Germany
Region
Hessen; Kassel; Fulda
Location of affected unit(s)
Fulda
Sector
Wholesale / Retail
Retail trade
Retail sale of food, beverages and tobacco
47.27 - Retail sale of other food

120 jobs
Number of planned job losses
Job loss
Announcement Date
14 November 2024
Employment effect (start)
14 November 2024
Foreseen end date

Description

The food retailer Tegut, based in Fulda and a German subsidiary of Migros Zürich, is cutting 120 full-time positions in central services. Additionally, every 10th store out of its 340 locations in Germany is to be sold. According to the company, Tegut has had a challenging time in the current market environment and stated that Tegut had failed to tap into its market potential, with sales and revenue growth being insufficient. Efforts are being made to find socially responsible solutions for the affected employees. Tegut employs 7,700 people in Germany.


Sources

Citation

Eurofound (2024), Tegut, Internal restructuring in Germany, factsheet number 201988, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201988.