Russia’s largest retailer confirmed today (21 October) that it is planning to reduce the size of its managerial workforce by up to 30%.
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Currently the company employs 3,000 managerial-level staff. However, a spokesperson for the group confirmed to just-food that it is mulling redundancies in order to meet efficiency goals and adjust to the more difficult operating environment.
“With economic conditions deteriorating we want to improve operational efficiencies,” the spokesperson said.
Earlier this month, X5 announced plans to cut its capital expenditure by about 30% in response to the financial crisis. It also delayed the opening of three hypermarkets from this year to next.
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