Germany's Ceconomy, the company behind chain stores MediaMarkt and Saturn, plans to cut 3,500 full-time jobs. The company reported this on Wednesday.

The company employs approximately 50,000 people worldwide. It is not yet known how many jobs will disappear in the Netherlands. With the cutbacks, Ceconomy wants to save 100 million euros per year.

The plans are partly related to the decrease in income due to the corona crisis and the subsequent lockdown measures. Management's desire to manage more activities centrally also plays a role.

The disappearance of the jobs is not yet final. The company wants to tie the knot about this later this month.