January 20, 2009 / 10:44 AM / 9 years ago

Metro to cut 5 pct of workforce by 2012 -source

FRANKFURT, Jan 20 (Reuters) - German retailer Metro MEOG.DE plans to cut 15,000 jobs or about 5 percent of its global workforce by 2012 amid a broader restructuring programme, a source close to the company told Reuters on Tuesday.

"Job cuts of 15,000 can be expected by 2012 as a result of Shape," the source said.

Metro announced its restructuring programme -- called "Shape 2012" -- late on Monday. The programme aims to boost Metro's operating profit by 1.5 billion euros ($1.95 billion) by 2012.

The figure included already announced job cuts at Metro's Cash & Carry wholesale unit and those as a result of the disposal of several Real supermarkets, the source added.

Metro declined to comment.

Reporting by Nikola Rotscheroth

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