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Bad Moon Arising Part II

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MUNICH, Germany (July 28) – One of Germany’s largest and oldest department stores is definitely under a black cloud. The company, which has quite a substantial bicycle and moped department is not doing well at all. Karstadt’s new management has decided to eliminate 4,000 jobs over the next two and a half years, including 800 […]

MUNICH, Germany (July 28) – One of Germany’s largest and oldest department stores is definitely under a black cloud. The company, which has quite a substantial bicycle and moped department is not doing well at all. Karstadt’s new management has decided to eliminate 4,000 jobs over the next two and a half years, including 800 this year, within its department store subsidiary, which now employs 47,000 persons at 180 department stores and 32 sports superstores. Here too, the halting economy is the main culprit and since it seems that Germany is one of the countries that is slow in recovering, measures like the above are becoming order of the day…(MH)

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