THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Omnichannel Futures 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Online fashion retailer Zalando to cut several hundred jobs

Online etailer Zalando will cut up to 5 per cent of its workforce due to a slowdown in the economy. The Berlin-based company on Tuesday told… View Article

FASHION RETAIL NEWS UK

Online fashion retailer Zalando to cut several hundred jobs

Online etailer Zalando will cut up to 5 per cent of its workforce due to a slowdown in the economy.

The Berlin-based company on Tuesday told staff that it would “remove several hundred overhead roles” over the coming months, saying that “the pandemic tailwinds have faded since 2022 and the macroeconomic environment has become more challenging”.

Zalando did not disclose how many of its 17,000-strong workforce would leave and that discussions with the workers’ council had only just begun.

The cuts will include those at “senior leadership level” while the retailer’s logistics centres, customer care and its handful of brick and mortar stores will be spared.

The planned job cuts come just two weeks before the release of the group’s full-year results, which analysts expect to show that sales were flat at €10.4bn and operating profit more than halved to just €187mn.

The group issued a profit warning last June that sent shares briefly below its 2014 initial public offering price. In August, Robert Gentz, co-founder and co-chief executive, reported that the group “just need to play a bit more defensively”, adding that a hiring freeze would be enough to stabilise its operations.

However, on Tuesday, Gentz and David Schneider, his co-founder and co-chief executive, told employees that “we are not where we need to be and as a result, we must take even more decisive action”.

 

Subscribe For Retail News