3.8.09

Unemployment growth threatens Poland?


Information about crisis and its effect on Eastern Europe is coming out very slowly. But yesterday news on Metro group, which owns chains of shops, emerged. And 17 000 people will be laid off. It is result of €15.3 billion ($21.8 billion) loss in sales in second quarter.
Obviously it will affect job market in Poland. All shops operated by Metro operate also in Poland.
Among them Saturn, MediaMarkt and Real.


Eastern European sales plunged by 11.6 percent on an uncorrected basis, but edged higher by 0.1 percent within the group's domestic German market. Metro did not give an outlook for the rest of the year, although
the company’s chairman, Eckhard Cordes said that "in view of the massive economic crisis Metro stood its ground well." The final result would depend on large part on development in slumping jobs markets, he added.

Picture: Centrum Handlowe GdaƄsk-Osowa

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