Retail Polish retailer Modivo cuts costs and plans layoffs By Reuters May 14, 2023, 7:43 AM Modivo The retailer has fired 10 percent of its head office staff Fashion retailer Modivo, owned by footwear and fashion brand group CCC, plans to cut costs and may lay off staff to boost profitability, its incoming CEO said on Friday, as the wider sector grapples with rising inflation and energy prices. “Improving profitability also means to work on efficiency, so we will try to rebuild this profitability, both at the level of revenues and costs, so we are open to everything,” newly appointed Modivo CEO Marcin Czyczerski told a press conference. Czyczerski said that the retailer, which has brick-and-mortar stores as well as an online platform, fired 10 percent of its head office staff. This comes after CCC Group announced on Thursday evening that CCC’s founder, Dariusz Milek, who until recently served as chairman of the supervisory board, was appointed chief executive officer of CCC Group, while Czyczerski, who led the group for the last 4-1/2 years, was to take over at Modivo. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
