Credit: Galeria Karstadt Kaufhof

Galeria Karstadt Kaufhof announces store closures

In a letter to its employees, management cites the consequences of the corona crisis as the reason.

During the time of the complete shutdown, the company allegedly lost more than half a billion in revenue. Galeria Karstadt Kaufhof has not yet disclosed to the news agency dpa how many stores will be closed. The trade union Verdi criticized this decision. The head of the union’s retail division, Orhan Akman, told the German press agency dpa that it is a sad state of affairs when management could not come up with better ideas than cutting personnel costs and closing stores. Instead of a new cutback frenzy, the company should find ways to provide a future for its staff and stores, said the unionist.

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