Karstadt announces less job cuts

ESSEN, Germany – After serious negotiations with the workers council Handel, Banken und Versicherungen (HBV) German Karstadt Warenhaus AG, a subsidiary of Karstadt-Quelle AG, has withdrawn a recent decision to cut a total of 7,000 jobs. Instead 4,700 layoffs will take place at with 2,700 jobs from the sales force and 2,000 out of the