German chain of electronic retail stores Media-Saturn has announced to cut 3000 jobs until the end of 2011. The majority of the redundancies will take place through natural fluctuation of personnel.
The group Metro announced that its Media-Saturn division booked an operational loss of 44 million Euros during the second quarter of 2011. To counter the negative operational results, Media-Saturn is now investing strongly in e-retailing. By 2015, the group aims to become the main European online electronics retailer.