Waterstones the book retailer have announced that they are to make a number of jobs at their Piccadilly head office redundant.
The company have not said how many people will be made redundant, but they have started a consultation process.
Waterstones said in a statement on Wednesday, “It is with great regret that Waterstones is to make a number of head office redundancies and is currently in consultation with those whose Piccadilly-based roles are affected.
“These are part of a number of measures undertaken to align the overheads of the business to the level of sales now being achieved.
“Waterstones has reopened all of its shops, excepting a small number where the circumstances make this impractical.
“As for almost all high street retailers, sales are lower than before the pandemic, notably in our city-centre shops.
“Notwithstanding the strong online performance of Waterstones.com, it is necessary to reduce the cost base of the business to reflect the new reality of our overall trading.”
Unemployment could hit around 10% of the UK’s workforce, warned the National Institute of Economic and Social Research (NIESR).