Metro Group, the Germany-based retail giant, plans to cut its global workforce by 15,000 as part of a restructuring programme announced this week.
‘Shape 2012’ is a cost-cutting programme being implemented by the retailer in a bid to boost profits by EUR1.5bn (US$1.9bn) by 2012.
The programme includes streamlining the organisational structure for its finance and compliance operations and giving further autonomy to its regional divisions.
A source close to the company told just-food today (20 January), “15,000 job cuts can be expected by 2012 as a result of the programme”.
The figure includes job cuts already announced at Metro’s Cash & Carry wholesale unit and those from the disposal of several Real supermarkets.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company said its finance, controlling and compliance will be managed centrally by Metro’s Duesseldorf headquarters.
“The aim is to ensure profitable growth of the company in the long term,” said Eckhard Cordes, chairman of the management board at Metro Group. “The new strict management structure will ensure a stronger focus on cost management and increased efficiency, particularly in overhead areas. Operational units that fail to meet return targets will be systematically restructured or disposed of.”
Metro declined to comment when contacted by just-food.
