INTERNATIONAL. Dufry, the world’s leading travel retailer by sales, today announced a restructuring programme to mitigate the consequences of the COVID-19 pandemic.
The programme aims to reduce personnel expenses by between 20% and 35%, reflecting the varying scenarios of potential sales declines between 40% and 70%, which the company presented in its Q1 Trading Update on 12 May.
The cuts are designed to adapt the company to the new business environment, Dufry said. The reduction in personnel expenses includes early retirements, hold-backs of seasonal staff employment, contributions from government support schemes, and the reduction of positions across all organisational levels and geographies.
Due to consultation procedures in several countries, it is currently not possible to provide details on the number and locations of the positions concerned, Dufry commented. The company plans to implement these measures between June and October.
