That would be around five percent of all employees. The branch network is also to be downsized
The Swedish fashion retailer H&M wants to cut around 800 jobs in Germany. That corresponds to around 5 percent of all employees of the company in the Federal Republic, said a company spokeswoman on Tuesday in Hamburg.
H&M is trying to achieve the downsizing through a volunteer program in order to avoid redundancies. “If the number of volunteers in this program is insufficient, the decision will be made on a social selection,” said the company. The business magazine “Business Insider” had previously reported on the downsizing.
The corona crisis had also hit the fashion giant hard. The net sales of the H&M Group, which is also represented in Austria, fell worldwide in the financial year from December 2019 to November 2020 by 18 percent to around 187 billion Swedish crowns (18.58 billion euros). The group had already announced in October that it wanted to thin out its branch network.
