Overview
- Grupo Recio has formally presented an ERE that may affect up to 15% of its nearly 700 store employees, roughly 105 retail staff, and the company says the process will run about one and a half months.
- The ERE applies only to in‑store workers and excludes administrative staff, and management says affected employees have an average tenure of about 20 years.
- Chief executive Javier Alonso attributes the action to sustained post‑COVID declines in foot traffic, higher operating costs from inflation and stronger competition from digital retailers.
- The company acknowledges its online sales are well below the sector average of about 15% and plans a business overhaul focused on social networks, a TikTok channel and influencer partnerships to boost digital revenue.
- The restructuring has local consequences in regions where the chain is strong, including roughly 30 stores in Galicia, and has already led Grupo Recio to end its role as main sponsor of the Perfumerías Avenida women’s basketball team.