The glasses group Fielmann wants to cut several hundred jobs. The Hamburg-based company informed its employees of this by email today, Friday.
As a first step, 66 jobs are to be cut by mid-2024. By 2025, “a total of several hundred jobs will be lost,” says the email.
The branches should be spared from the dismantling.
The glasses group Fielmann wants to cut several hundred jobs. The Hamburg-based company informed its employees of this by email today, Friday. The document is available to Business Insider. As a first step, 66 jobs are to be cut by mid-2024. By 2025, “a total of several hundred jobs will be lost,” says the email.
The central departments are affected by the job cuts. The central departments include the headquarters in Hamburg as well as several country headquarters abroad, the education and training locations and the production facilities of the Fielmann Group. The branches are to be spared from the downsizing.
According to the Fielmann Group, it operates 968 branches in Germany and abroad with a total of 22,631 employees.
The job cuts are part of the so-called Cost Leadership Program that Fielmann launched a few months ago. The program aims to reduce costs by 125 million euros by 2025.
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The reasons for the austerity course include the company’s reduced margin. The CFO, Georg Alexander Zeiss, said in an internal video that the capital market was watching critically. “We no longer deliver perfect numbers, no longer extremely good numbers. But only normal average or worse,” says Zeiss in the video. As a result, the company’s rating went down.
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The figures presented recently also do not paint a good picture of the glasses company. In 2022, Fielmann earned significantly less with slightly increased sales. Group sales rose by five percent to 1.76 billion euros. In contrast, the pre-tax result fell by 23.4 percent to EUR 160.7 million compared to the previous year. Profit after tax will be around 110 million euros, 23.9 percent below the previous year’s figure.
You work at Fielmann and have information about the company? Then get in touch with our editor Luca Schallenberger – confidentially, of course. You can reach him by mail ([email protected]) or via Threema (3MRRX6T9).