The Playmobil parent company is cutting around 700 jobs worldwide, including around 370 in Germany. The Horst Brandstätter Group announced this on Monday in Zirndorf near Nuremberg. The job cuts correspond to a share of 17 percent worldwide and 16 percent of the total workforce in Germany.
“The company management decided this after completing a comprehensive investigation into all business areas and taking into account business developments and current economic challenges,” said a spokesman.
The company cited a difficult economic situation as the reason for the job cuts. Both the toy brand Playmobil and the plant pot brand Lechuza, which also belongs to the group, continue to feel the effects of the corona pandemic. According to the information, the Playmobil parent company recorded losses in sales and profits in the last two financial years.
Investments in the brands of the Horst Brandstätter Group are planned in the next few years in order to secure the future of the company and jobs, it said.
It had already become known on Friday that the Playmobil manufacturer wanted to outsource its mold making and cut 74 jobs, with layoffs also expected. The company justified the move by saying that mold making is no longer one of the company's core competencies and has lost its importance.