Neckermann.de GmbH, the German direct marketer, will eliminate 500 jobs as part of a restructuring program, it hopes will return it to profitability by 2010, according to news reports.
The Frankfurt-based company said in a statement that 450 of the positions to be slashed will be in Germany, where it employs 3,500 people.
Those job cuts will generate one-third of the savings it aims to generate in the next two years. The rest will be through reductions in fixed costs.
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