Corona crisis: Globus in Zurich cuts 100 jobs

The Globus department store chain will cut around 100 jobs at its headquarters in Zurich in the first half of 2020. General manager Franco Savastano informed the employees about this drastic step on Monday evening, as the company confirmed to the news agency AWP. The French-speaking media had previously reported on the job cuts.

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Globus regretted this massive breakdown. However, the step was necessary to secure the future of the group. Globus justified the reduction with the fact that the operating result had been inadequate for five years and the economic situation had deteriorated for some time.

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Increasing competition

In the middle price segment, the competition has recently accentuated. The corona crisis also played a role. They have massively increased pressure in the retail trade. 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.

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The major distributor Migros announced at the beginning of February 2020 that the Globus group would be sold to the Austrian Signa Group and the Thai Central Group. Migros wrote at the time that the two buyers had submitted the best offer and future strategy among more than a dozen interested parties.

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By mid-2020, sales should be kept under lock and key, provided the competition authorities approved the takeover. The employees would all be taken on at the previous conditions, it was said at the time. Around 2,400 full-time employees work for Globus. (vnf / SDA)

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