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The department store chain Globus will cut around 100 jobs at its Zurich headquarters in the first half of 2020. General manager Franco Savastano informed employees of this drastic step on Monday night, the company confirmed to the agency. AWP news. The French-speaking media had previously reported on the job cuts.
Globus regretted this massive collapse. However, the move was necessary to secure the group’s future. Globus justified the reduction by the fact that the operating result had been inadequate for five years and the economic situation had deteriorated for some time.
Increasing competition
In the mid-price segment, competition has recently increased. The crown crisis also played a role. They have greatly increased the pressure on retail. The Globus Group also announced rationalizations in the branch network. The social partners are informed. A social plan is being drawn up, the company said.
The main distributor Migros announced in early February 2020 that the Globus group would be sold to the Austrian group Signa and the central Thai group. Migros wrote at the time that the two buyers had presented the best future offer and strategy to more than a dozen stakeholders.
In mid-2020, sales should be kept under lock and key, provided competition authorities approve the acquisition. All employees would be hired under the above conditions, it was said at the time. Around 2,400 full-time employees work for Globus. (vnf / SDA)
