Mediamarkt and Saturn cut jobs – branches close

Clear cut at electronics retailers Mediamarkt and Saturn: parent company Ceconomy wants to save considerably – and therefore close many branches. Thousands of jobs are at risk.

At the electronics retailer Ceconomy with its chains Mediamarkt and Saturn, several thousand jobs could be lost during a realignment. The introduction of a uniform group-wide organizational structure is under consideration, the implementation of which, mainly in other European countries, could eliminate up to 3,500 full-time positions, such as the ‘Ceconomy announced in Düsseldorf on Wednesday.

According to “Spiegel”, which refers to internal plans, around 4,000 full-time jobs are at risk. The company employs approximately 55,000 people worldwide.

The implementation of the proposed measures would initially cost around 180 million euros, but should also reduce annual costs by just over 100 million euros, as announced by Ceconomy. An implementation decision is due on August 12.

In addition, some loss-making branches across Europe could be closed due to a lack of customers, he said. Initially, according to “Spiegel”, around twenty stores are concerned.

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