November 19, 2019 / 1:36 PM / 24 days ago

Metro says restructuring to cost 60-80 mln euros

BERLIN, Nov 19 (Reuters) - Metro said it expected the restructuring of its central administration to result in one-off expenses of up to 80 million euros ($88.62 million) in the 2019/20 fiscal year, the German wholesaler said on Tuesday.

Metro, which had already announced it was looking into efficiency measures in September, said details still had to be fleshed out in consultation with employee representatives, management and staff.

It said the costs would be offset by long-term savings in the mid double-digit million range, of which a figure in the low double-digit millions would be realised in the current financial year. ($1 = 0.9027 euros) (Reporting by Emma Thomasson Editing by Michelle Martin)

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