Metro AG Layoffs Job Cut: fires 5200 employees: Finance Trading Times

Metro AG Layoffs Job Cut: fires 5200 employees

The news is not good for the employees of Germany Duesseldorf-based company based Metro AG Corporation. The latest additon to the list of companies going for layoffs is the Metro AG, which is one of the top 5 in Retailer Business. No one seems to be shielded from the effect of recession. It the Metro AG Company, which have decided to go for the layoff. Metro AG Layoffs

How many employees will be fired in the Metro AG layoffs?
There will be around 1500 job cuts by the company.

Which locations will be affected by the Retailer Metro AG job cuts?
The layoffs by Metro AG will be done on a global basis.

How many employees does Metro AG has?
Metro AG has 300,000 employees at 2200 stores spread across 32 different countries.

Which employees are affecteed by the Metro AG Layoffs
There are 800 Metro AG Corporation employees in the Greater Cleveland area, 60 of those workers will lose their jobs.

Any compensation or severance package for Metro AG employees?
There is no information regarding that.

How much savings is expected to be made by Metro AG layoffs?
The savings from layoffs and other measures will amount to Euro 1.5 billion ($1.95 billion).

When will the Metro AG layoffs happen?
It is learnt that the job cuts will be made by March 2009.

Any other news about Metro AG layoffs
Metro said it would introduce other profit-enhancing measures beyond the layoffs, including giving international units more say in running their business, while the Cash & Carry, Real, Media Markt, Saturn and Kaufhof divisions will have more oversight of their entire business lines from supplier to customer.
Let's hope that alternative jobs are available to the affected employees of Metro AG Layoffs Job Cut
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