Migros Zurich Redesigns Troubled Child and Cuts 120 Jobs
Swiss retail giant Migros Zurich is restructuring its troubled department store chain Globus, cutting 120 jobs and closing several locations.
The move is part of a broader effort to improve profitability and adapt to changing consumer behavior.
Migros Zurich, the largest cooperative retailer in Switzerland, has announced a major restructuring of its department store chain Globus. The company plans to close several locations and cut 120 jobs as part of a broader effort to improve profitability and adapt to changing consumer behavior.
Globus has been struggling in recent years, facing competition from both online retailers and traditional department stores. The chain has also been criticized for its high prices and lack of innovation.
The restructuring plan includes the closure of several Globus locations, including the flagship store in Zurich. The company will also reduce the number of employees by 120, or about 10% of the workforce.
Migros Zurich CEO Fabrice Zumbrunnen said the restructuring is necessary to ensure the long-term success of Globus.
“We have to adapt to the changing needs of our customers,” Zumbrunnen said. “We are confident that these changes will make Globus more competitive and profitable in the future.”
The restructuring is expected to be completed by the end of 2023. Migros Zurich said it will provide support to employees who are affected by the job cuts.
Additional Information
- Migros Zurich is the largest cooperative retailer in Switzerland, with over 2 million members.
- Globus is a department store chain with 12 locations in Switzerland.
- The restructuring plan includes the closure of several Globus locations, including the flagship store in Zurich.
- The company will also reduce the number of employees by 120, or about 10% of the workforce.
- The restructuring is expected to be completed by the end of 2023.
Sources
- Migros Zurich saniert Sorgenkind und streicht 120 Jobs
- Migros Zürich streicht 120 Stellen bei Globus
- Migros Zürich baut bei Globus 120 Stellen ab
