German department store retailer Karstadt plans to cut 2,000 jobs by the end of 2014 as part of a strategic restructuring. 

The job cuts will be achieved through early retirements, non-renewal of temporary contracts and voluntary redundancies. 

The company said it is simplifying its structures and processes for long-term efficiency, amid the "challenging" conditions in the eurozone.

"As painful as these measures are for the affected employees, Karstadt must continue to adapt its organisation in order to remain competitive and take the necessary steps to secure our long term success," said CEO Andrew Jennings.

Jennings joined the German store group in January 2011 after it was sold to investment company Berggruen Holdings. The retailer was previously owned by collapsed corporation Arcandor AG, which collapsed in 2010.