Homebase set to axe hundreds of jobs
Senior staff across 300 of DIY chain’s stores are at risk of redundancy following a 10% decline in sales over the Christmas period.
According to reports by The Sun, senior staff were called to meetings last week to be informed of a ‘restructuring’ that is likely to take place this Thursday.
An inside source revealed: “It’s going to affect management positions, trading managers, sales managers and supervisors.”
The cutbacks are part of a cost saving exercise after Homebase’s latest trading statement for the 18 weeks to January 3, showed a 10.2% drop in like-for-like sales.
Commenting on the results earlier this month, chief executive of parent company Home Retail Group, Terry Duddy said: “You will see job cuts, but what there won’t be is a huge swinging axe that comes through the business. It will be relative to individual stores.”