Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail trade
47 - Retail trade

1,000 jobs
Number of planned job losses
Job loss
Announcement Date
22 November 2005
Employment effect (start)
1 December 2005
Foreseen end date
31 December 2006

Description

Karstadt Quelle, a financially ailing retailing giant, has announced cost-cutting measures for its mail order businesses Neckermann and Quelle. At Neckermann, the internet retailing arm, at least 400 jobs are to go. At Quelle, which works mainly through catalogues, 600 jobs will be cut. It has not been decided yet, where employment will be cut. 350 to 400 employees shall either go into early retirement or receive compensations.


Sources

  • 23 November 2005: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2005), Karstadt Quelle, Internal restructuring in Germany, factsheet number 62542, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62542.