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Tue, 04 Feb, 2014 12:53:30 AM
FTimes-STT Report, February 4
 
People in front of Stockmann in Helsinki. Photo – Lehtikuva.
The departmental store Stockman intends to centralise its activities through its newly constructed distribution centre in Tuusula.
 
The move will result in the laying off of 200 workers of the departmental store until the end of next year.
 
In addition, Stockman will lay off 50 more employees in Latvia. Through the moves, the department store is looking to save up to 6.5 million euros in personnel, transportation and real estate costs.
 
The move to the new centralised facility will take place in 2016. The department store and online shop will operate from five locations. From 2017, its Baltic operations will be carried out from Riga.
 
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