GERMANY: Karstadt To Cut 7,000 Jobs In Department Stores
German retail group Karstadt Quelle is to cut 7,000 jobs in its department store business as part of a restructuring plan aimed at boosting its earnings and share prices, the Financial Times reported. The scheme has already come under fire from the two leading German retail unions, DAG and HBV, who have said that they would oppose the planned 15 per cent cut in the department stores' total staff of 52,000.
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