300
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Jul 7, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

KKR-owned Dutch retailer V&D asks for pay freeze

By
Reuters
Published
Jul 7, 2009

AMSTERDAM, July 6 (Reuters) - V&D, a Dutch department store chain partly owned by private equity firm Kohlberg Kravis Roberts & Co [KKR.UL] (KKR.AS), has asked staff to delay a pay rise to save jobs in the recession.


Swimwear at Vroom & Dreesman - Photo: www.vd.nl

V&D, part of Dutch retail group Maxeda, asked staff to delay a 3.3 percent wage increase until Feb. 1 to limit the number of jobs axed in a planned cost-cutting programme, a spokeswoman said on Monday 6 July.

The wage increase, planned to start on July 1, could affect about 500 jobs but if staff collectively decide to postpone the rise until next year, job cuts could be reduced to about 60 positions, and forced lay-offs could be prevented, she said.

Staff at British Airways (BAY.L) last month agreed to take a pay cut, while British telecoms company BT Group (BT.L) and Spanish Bank BBVA (BBVA.MC) have also asked staff to work for other companies or take unpaid leave as they try to avoid redundancies.

Maxeda was bought by KKR and private equity funds Permira [PERM.UL], Cinven [CINV.UL] and AlpInvest Partners in 2004 for 2.4 billion euros ($3.4 billion). Dutch union FNV, which has refused a collective deal to freeze wages, said cost savings should not come from employees because Maxeda had already sold its property, FNV's Henk van der Ploeg said in a statement.

"Big sums were involved in this deal. Why give presents to a company which is taking away capital?" Van der Ploeg said.

(Reporting by Gilbert Kreijger; Editing by Dan Lalor)

($1 = 0.7154 euro)

© Thomson Reuters 2024 All rights reserved.