Type
Internal restructuring
Country
Germany
Region
Nordrhein-Westfalen; Köln; Köln
Location of affected unit(s)
Köln
Sector
Wholesale / Retail
Retail trade
Non-specialised retail sale
47.12 - Other non-specialised retail sale

400 jobs
Number of planned job losses
Job loss
Announcement Date
8 February 2018
Employment effect (start)
8 February 2018
Foreseen end date
8 February 2020

Description

The German department store chain Galeria Kaufhof announced it will cut 400 of 1,600 jobs at its headquarter in Cologne by 2020 due to internal restructuring. Kaufhof has been posting losses in the last years and is trying to enhance its competitiveness in the market. To that end, Kaufhof aims to reduce its personnel costs, which are far above the international average. The company plans to avoid operational terminations and hopes to achieve the job reduction measurement by natural fluctuation and early-retirement programmes.


Sources

  • 8 February 2018: Kölner Stadt-Anzeiger (online)
  • 8 February 2018: FAZ (E-Paper)

Citation

Eurofound (2018), Galeria Kaufhof, Internal restructuring in Germany, factsheet number 93263, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93263.