Up to 380 jobs are at risk after Stockmann announced on Wednesday that it will launch consultative negotiations with all of the roughly 800 people employed by Seppälä in Finland in response to the deteriorating profitability of the fashion chain. “The operating losses have increased during this year,” highlights Kaj-Gustaf Bergh, the board chairperson at Stockmann.
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Up to 380 jobs at risk as Seppälä mulls cuts
“To break the loss spiral, we are planning significant downsizing in Seppälä's operations in the main markets in Finland and Estonia,” he adds in the interim report of the traditional retailer.