Citing a prolonged market slowdown, the department store group, which is primarily based in France, plans to cut 229 jobs (out of approximately 3,000) and close its store in Rennes, Brittany.
A major spring cleaning at…Printemps.
The French department store group, founded in 1865 by Jules and Augustine Jaluzot, has just announced to its labor partners that it is considering the elimination of 229 positions (out of nearly 3,000) spread across its headquarters and all of its stores. According to a press release, this reorganization also includes “the modification of 17 positions and the creation of 91 positions.”
Closure of the Rennes store
The retailer also announced that it would “cease operations at the Rennes store.” The store’s location—a shopping mall—has reportedly become incompatible with the brand’s high-end positioning. The Breton market itself is going through a rough patch, as last week another store in the region affiliated with the group since 1984, Printemps in Brest, was placed in receivership.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
Read more > Printemps Group: Jean-Marc Bellaiche to Step Down as Chairman
Featured Image: © Printemps
