Germany: Galeria Karstadt Kaufhof to close a third of its branches and cut 6,000 jobs

German store chain Galeria Karstadt Kaufhof announced it will close a third of its stores in the country in a bid to save the firm after it was hit by losses from three months of lockdown measures. The announcement was made on Friday. In the city of Berlin, six out of eleven department stores are set to shut down, including the branch of Wilmersdorfer Strasse. «I'm feeling very sorry for the people who are working here» said a resident. Many were also lamenting the lack of alternatives for shopping. «I find Karstadt very important for this area, not only for the employees but also for for the atmosphere around, it should be kept on,» said another customer. The department store said the restructuring plans will affect 62 of its 172 stores, potentially cutting over 6,000 jobs. According to an agreement reached between the firm and the union, employees hit by the branch closures will receive severance packages.
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