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Metro Says Restructuring To Cost Upto €80m

Published on Nov 19 2019 3:00 PM in Retail tagged: Trending Posts / Germany / Metro / Restructuring

Metro Says Restructuring To Cost Upto €80m

Metro said it expected the restructuring of its central administration to result in one-off expenses of up to €80 million ($88.62 million) in the 2019/20 fiscal year, the German wholesaler said on Tuesday.

Metro, which had already announced it was looking into efficiency measures in September, said details still had to be fleshed out in consultation with employee representatives, management and staff.

It said the costs would be offset by long-term savings in the mid double-digit million range, of which a figure in the low double-digit millions would be realised in the current financial year.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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