Home / Knowledge / News / Apparel/Garments / Stockmann to restructure department store division
Stockmann to restructure department store division
17
Oct '13
The Stockmann Group aims to achieve more cost-effective operations under the uncertain market conditions and in a changing retail operating environment. Stockmann is planning to restructure the Department Store Division’s marketing organisation in order to improve the efficiency of marketing processes and to achieve cost savings. This will also allow it to better meet the requirements of the changing media environment.

As a consequence of the new organisational model being planned, Stockmann will be launching statutory co-determination negotiations covering about 150 employees in the Department Store Division’s marketing operations in Finland.

The negotiation proposal states that the restructuring could lead to a personnel reduction of up to 70 people. Stockmann is targeting annual cost savings of approximately EUR 4 million, which would be implemented to start in 2014 and in full during 2015.

The reorganisation of marketing is part of the structural changes in Stockmann’s Department Store Division which are designed to achieve a more efficient cost structure and to improve competitiveness.

The assessment work for these changes is under way in both the support functions and the sales organisation, and the changes will take place in stages. The start of the cost savings programme was published as a company announcement on 16 April 2013. In addition to the structural changes, Stockmann is targeting savings of over EUR 17 million by summer 2014 through reductions in fixed costs and via temporary lay-offs.

Stockmann


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search