The Swiss retailer Migros is continuing a massive restructuring.
Around three weeks ago it laid off 150 from its supermarket operations, now a further 415 are to go at the unit, Migros Industry. It’s responsible for making the company’s own branded products – but it still employs over 13,000 with sales of almost CHF 6bn.
It’s also sold its electronic brand Melectronics to Media Markt, which will take over 20 of its 37 stores. The rest will be closed by November.
200 out of 300 Melectrioncs staff will be employed by Media Markt. Migros says it will try to find positions for the others elsewhere.
Migros is still looking for buyers of its other units, such as SportX, Micasa, Bike World, and Do it + Garden.
The company wants to save money after a recent slump in profits.
Unions are unhappy at the move, saying it should have invested in staff and not pay the consultant McKinsey millions.
Migros says those who are losing their jobs will be offered a package, dependent on length of service and age.
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