Spanish department store El Corte Inglés to slash 3,500 jobs
One of Europe’s largest retailers and an indicator of the Spanish economy, El Corte Inglés, has announced that it will slash 3,500 jobs, its largest job cut since its founding in Madrid in 1940. The proposal was submitted last week to the trade unions, who have already stated their readiness to accept job cuts this year amid mass unemployment.
Most El Corte Inglés stores closed only for six weeks during the total lockdown in the spring of 2020. Its supermarkets and online sales remained active during that period. Nonetheless, the company, with sales revenues of €15.267 billion, is justifying its latest decision by citing the economic impact of the virus.
Research and Markets: 2021 Spain Gift Card and Incentive Card Market Intelligence and Future Growth: Spend Analysis by Digital/e-Gift Card, Top Retailers, Distribution Channel, Occasions and Demographics - ResearchAndMarkets.com
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The gift card market in 2020 was driven by a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially in H1 2021.
Supermarkets, department stores and consumer-goods firms in Spain have offered to help overloaded
health authorities with coronavirus vaccinations, while the government says that more than one million people have received two shots.
Five major retail associations said in a letter to health authorities that their members - many of which already carry out annual inoculations of staff - could administer COVID-19
jabs to their workers to ease the pressure on the health service.
Companies including El Corte Ingles, Carrefour and IKEA, said they could operate in strict compliance with the national vaccination strategy.
Although Spain initially said its primary-care network
Supermarkets, department stores and consumer-goods firms in Spain offered to help overloaded health authorities with coronavirus vaccinations on Friday, while the government said more than 1 million people had already received two shots.
Supermarkets, department stores and consumer-goods firms in Spain offered to help overloaded health authorities with coronavirus vaccinations on Friday, while the government said more than 1 million people had already received two shots.