Fielmann to cut several hundred jobs by 2025
The optician chain Fielmann is putting the brakes on costs and wants to save 125 million euros. Initially, 66 jobs are to be cut by June next year through a voluntary program, a Group spokeswoman told the German Press Agency (dpa). Several hundred jobs are then to be cut by 2025. The job cuts will only affect central departments remote from customers, i.e. the head office in Hamburg and several country headquarters abroad, the training locations and the Fielmann Group's production facilities. Everything will remain the same in the branches, and there will be a large number of vacancies for opticians and hearing care professionals.
The Fielmann Group wants to align its central divisions with the growing international omnichannel model, the spokeswoman said, explaining the job cuts. "We are digitalizing, automating and standardizing our core processes in order to become the cost leader again and thus remain the price leader. "The Fielmann Group currently sells its products in 936 stores in Europe and employs a total of 22,640 people.
Massive slump in profits
Fielmann recently reported a slump in profits for 2022. Group sales had increased by 5 per cent to 1.76 billion euros. However, pre-tax profit fell by 23.4 per cent to 160.7 million euros compared to the previous year. Profit after tax will be around 110 million euros, 23.9 per cent below the previous year's figure. Fielmann therefore intends to halve the dividend per share from 1.50 euros to 75 cents and pay out only 63 million euros instead of 126 million euros. The Annual General Meeting on July 13 will have the final say. Nevertheless, this is bitter news for the employees at the head office.
