The Hamburg online retailer Otto plans to cut almost 460 full-time positions, primarily at the Hamburg location.
Major changes are planned in marketing, controlling and the tech areas, the company said upon request. “This difficult decision was not made lightly and is the result of several months of constructive negotiations with the Otto works council,” it said. The ‘Hamburger Abendblatt’ first reported.
The aim is to simplify internal structures, further reduce bureaucracy, reduce costs and make the company future-proof. The annual cost base is to be reduced by 110 million euros to 500 million euros by the 2027/28 financial year, it said.
Otto announced that the upcoming changes would be “as fair, respectful, transparent and socially acceptable as possible”. There should be partial retirement and termination offers for the affected employees. A change to a transfer company is also possible. Such a company takes on employees on a temporary basis, further trains them and, in the best case scenario, places them back on the job market.
