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Savings plans: Media Markt and Saturn before removal

The parent company of Media Markt and Saturn wants to save the radical: hundreds of jobs will be cut, in order to reduce especially the "clearly oversized administration".

job cuts at Germany's largest electronics dealer: Ceconomy, the parent company of Media Markt and Saturn has announced that it is to strike a "middle three-digit number of Digits". According to Media-Saturn-Chef Ferran Reverter, the set relates primarily to the administration. Ceconomy want to reduce the size of the Media-Saturn Headquarters in Ingolstadt and the marketing Department in Munich and the administrative costs of the group in Germany by around 20 percent. This is a savings of 110 to 130 million euros in the year.

branch, there are closures "not provided"

in Addition to the redundancies, the management Board should in future only of two persons. While smaller subsidiaries such as the Streaming platform Juke will be closed, to get the brands Media Markt and Saturn both said Ceconomy CEO Jörn Werner. Branch closures were also provided.

Ceconomy is in crisis. The retail giant is struggling due to Online competition, declining sales, and deterioration in profits. The share price has fallen since the separation from the former parent company Metro in the summer of 2017, drastically. Ceconomy of employees in Germany according to its own information of around 27,000 employees. Worldwide, the group employs around 60,000 people.

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