By
Reuters
Published
Feb 3, 2014
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Stockmann to set up new distribution centre and cut staff

By
Reuters
Published
Feb 3, 2014

HELSINKI, Finland - Finnish retailer Stockmann said it plans to centralize six warehouses into a new distribution centre in Finland, and aims to cut about 250 jobs by 2016.

The plan is seen cutting annual costs by about 6.5 million euros, the company said.

Stockmann, whose expansion in Russia has been seen as a strength, has recently been hit by a slowdown in the country's economy.

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