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Dufry to Cut Staff Expenses by 20-35% Due to COVID-19

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Dufry’s reduction of staff expenses is planned to take place between June 2020 and October 2020.

Dufry AG has announced a restructuring program with plans to cut staff expenses by 20% to 35% in an effort to mitigate the financial impact of the COVID-19 pandemic, according to an article on MarketWatch.

Previously: Dufry's Q1 2020 Reveals Travel Retail Slowdown

The travel retailer previously forecasted a potential sales decline between 40% and 70%. The reductions, which will take place from June 2020, to October 2020, include reduction of positions, retirements and seasonal staff, according to the article.

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