Dutch retailer Schuitema cuts 100's of jobs
Dutch retailer Schuitema plans to cut about 140 of 640 jobs by the end of 2009 in a reorganisation to reduce costs partly due to difficult market conditions. Schuitema's chief executive Tonn van de Laar stated: "In the current market where margins are constantly under pressure, it is necessary to adapt to the new situation quickly."
Earlier this year, Ahold agreed to sell its 73% in Schuitema to British private equity firm CVC Capital Partners in April. As part of the deal, Ahold gained 58 Schuitema stores to add to its Albert Heijn chain. The deal also prompted Bert Roetert, to resign his position as CEO of Schuitema following confirmation of the change of control at the company.
Schuitema operates the C1000 stores.
[Click here to read a detailed report of the food retail sector in the Netherlands.]
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