Migros, Switzerland's largest retail group, is undertaking a significant restructuring initiative aimed at streamlining its operations and becoming leaner. As part of this transformation, Migros has sold 20 of its 37 Melectronics stores to Mediamarkt, with the remaining 17 slated for closure. While Mediamarkt plans to retain the employees from the acquired stores, the closures will result in approximately 100 job losses.
The restructuring also impacts Migros Industrie, the company's industrial arm, which will now focus primarily on producing private labels for the Swiss market and third parties. This shift has led to the elimination of around 365 positions across various divisions of Migros Industrie.
The changes at Melectronics will also affect 50 larger supermarket branches, where the integrated Melectronics sales areas will be reduced to a basic range of electronic items. Furthermore, Migros has announced its intention to sell Micasa, Bike World, and Do it + Garden as part of its ongoing restructuring efforts.
Earlier this month, Migros announced the sale of its subsidiary Misenso, which specialisies in hearing aids and optics, to the Austrian Neuroth Group. These measures are part of a larger transformation plan announced in February, which aims to reduce up to 1,500 jobs across the entire Migros Group.
Migros has put in place a social plan to support employees affected by the job cuts, offering individual benefits based on factors such as length of service and age.
