The Citylink electronics store chain (part of the Merlion group of companies) began laying off employees and merging individual divisions with Merlion for optimization purposes. Vedomosti learned about this from three former and one current employee.
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First, the company laid off outsourced IT specialists and cut its call center, says one of the publication’s interlocutors. The second says that the layoffs were explained by “financial difficulties.”
Two years ago, TASS reported on Citylink’s plans to hold an IPO. The company is not currently planning an initial public offering, a Merlion representative said.
“A company is a living organism; The functionality and dynamics of hiring specialists are aligned with the goals and objectives of the business. The closure of points of sale as a result of natural wear and tear also affects the staff turnover process,” a Citylink representative told Vedomosti about the situation. He did not specify exactly how many employees fell under the “natural attrition” process.
Citylink’s problems are due to the network’s failure to compete with the markets, suggested Denis Kuskov, CEO of TelecomDaily. According to him, Citilink has a poor distribution of certain types of goods. Users began to buy more actively on marketplaces, the company at some point lost a niche and is now finding it difficult to regain that market share.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
