Stockmann to axe up to 160 positions, sharpen focus on premium products
STOCKMANN on Tuesday announced it will initiate consultative negotiations with its personnel with a view to terminating a maximum of 160 positions.
The iconic, cash-strapped department store chain stated that the redundancies are part of its belt-tightening effort and make up less than a third of its 40 million-euro cost-cutting target to be achieved in the first half of 2021.