Globus cuts almost 50 jobs at its headquarters

The Globus department stores’ group is cutting jobs at its headquarters in Zurich and transferring central functions to the parent company Central Group in Milan. A total of almost 50 jobs will fall victim to the restructuring programme.

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“As part of this reorganisation, 48 jobs in support functions in the head office in Switzerland will be cut”, according to a press release issued on Tuesday, which was also sent to employees and excerpts of which are available to AWP. The shops and the logistics centre are not affected by the measures, it says. The Handelszeitung had previously reported on the plans.

In particular, purchasing, marketing, finance and IT functions are to be managed from the Central Group headquarters in Milan in future. According to the letter, the corporate and strategic management of Globus will remain unchanged and entirely in Switzerland under the leadership of managing director Lucia Guagliardi. Globus hopes that the “increased utilisation of resources within the group” will lead to a “structural and lasting” reduction in the cost base.

+ The decline of the luxury department store

The background to this measure is likely to be the ongoing financial pressure. At the beginning of December, Globus chairman of the board of directors Pierluigi Cocchini explained in an interview with NZZ am Sonntag that the department stores’ chain will remain in the red in 2025.

“If everything goes well, we will reach budget for the first time in 2025,” he said at the time. However, this budget still envisages a loss of CHF28 million ($35 million). However, sales and margins had grown, he said.

Cocchini was already talking about job cuts in December, but did not give any specific figures. At the time, he put the headcount at 120 employees at the head office.

Adapted from German by AI/ts