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Polish retailer Modivo cuts costs and plans layoffs

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.