Germany’s Karstadt to Reduce 2,000 Positions Through 2014

Karstadt Warenhaus GmbH, a German retailer, plans to reduce 2,000 positions by the end of 2014, the company said.

The cuts are to be realized primarily through early retirements, letting temporary contracts end and voluntary exits, the company said today in Website statement.

“Karstadt must adapt its organization to make sure it keeps competitiveness and take the necessary steps to secure long-term success,” Chief Executive Officer Andrew Jennings said in the statement.

Stefan Nicola in Berlin at +49-30-70010-6246 or snicola2@bloomberg.net

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