Triumph to cut hundreds of jobs in Germany

Heritage lingerie brand Triumph has announced plans to cut hundreds of jobs at its headquarters in Baden Wuttenberg as part of its restructuring efforts. The redundancies will be made at the Logistics Centre in Aalen and in Heubach, where the company was founded, announced a spokesperson on Thursday.

The workforce reduction in Aalen could impact up to 300 employees, who will be offered solutions such as early retirement, training opportunities and the creation of an interim employment society.

According to the company, the decision to cut jobs in Heubach responds to a strategy to streamline its product development operations. More than 50 jobs are expected to be axed this year with a further 25 in 2017 as the company introduces a new IT system and reduces the number of collections.

Other restructuring measures include the sale of a production centre in Portugal. The 130-year old company was founded in Heubach, but has now its global headquarters in Switzerland. With an annual turnover of over 1.4 billion euros, Triumph employs over 30,000 people worldwide, of which 1550 are based in Germany.

Triumph has been hit by the challenging conditions of the market and a fierce competition from low-cost lingerie brands from Asia.

“The social partners of Triumph will do everything to ensure that the company continues to be strong in the market and has in the long term many sustainable jobs" said Triumph CEO Karl-Heinz Gerl and General Manager Thomas Schneidmüller in a joint statement.