EMCC European Monitoring Centre on Change

Media-Saturn

Company/Organisation:
Media-Saturn

Geographic Location

Country: European Union

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47 - Retail trade, except of motor vehicles and motorcycles
Number Employed: 70000
Group: Metro

Employment Effects

Announcement Date: 26-07-2011
Planned Job Reductions min: 3000
Planned Job Reductions max: 3000
Type of Restructuring: Internal restructuring
Employment Effect Start: 26-07-2011
Foreseen End Date: 31-12-2011

Additional Information

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.