Migros moves ahead with downsizing plans

Migros is slimming down further. A buyer has been found for Melectronics, the Group announced on Tuesday. The retailer also intends to divest further subsidiaries. This will result in additional redundancies. As is well known, the retail group Migros wants to free itself from its complicated structures and become leaner. Migros has now found a buyer for Melectronics: It is selling 20 of the 37 specialist electronics stores to Mediamarkt. The remaining 17 will be closed, as Migros announced in a press release on Tuesday. According to Migros, the acquired stores will continue to operate under the Mediamarkt brand. This rebranding will take place in stages, in parallel with the conversion measures, and should be completed by November 2024, as Mediamarkt announced on the same day. All employees and apprentices at the acquired locations will transfer to Mediamarkt. According to social partner KV Schweiz, the electronics retailer is also taking on 18 additional apprentices from the ...