EMCC European Monitoring Centre on Change

MediaMarktSaturn

Company/Organisation:
MediaMarktSaturn

Geographic Location

Country: Germany

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
46.43 - Wholesale of electrical household appliances
Number Employed: 45000
Group: Ceconomy

Employment Effects

Announcement Date: 31-03-2021
Planned Job Reductions min: 1000
Planned Job Reductions max: 1000
Type of Restructuring: Closure
Employment Effect Start: 31-03-2021
Foreseen End Date: 30-09-2022
Other Job Reduction Measures: 1000

Additional Information

As announced on 31 March 2021, the German consumer goods retailer MediaMarktSaturn, owned by German holding company Ceconomy, will be closing 13 of its 419 shops which will result in the loss of 1,000 jobs in Germany until September 2022. According to the management, the e-commerce part of the company’s sales doubled in 2020 due to the pandemic, making changes to the company necessary. As of today, it is unclear which shops will be closed, nor are information on a social plan available.

The restructuring programme in Germany is part of a Europe-wide restructuring programme including the reduction of 3,500 of 45,000 jobs announced in August 2020.