11 May 2020
The Weekly
Germany

Galeria Karstadt Kaufhof is preparing its employees for site closures and further job cuts as part of the protective shield procedure initiated in early April. In a letter to the employees on Monday, the company management reported that the administrator and the general representative made it clear that, in view of the Corona crisis, location closures and, accordingly, job losses will occur. Galeria Karstadt Kaufhof has lost more than half a billion euros in sales during the period of complete closings. Due to the continuing reluctance to buy, the loss in sales will probably even increase to up to €1bn.

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