Home Business News WHSmith to cut up to 1,500 jobs

WHSmith to cut up to 1,500 jobs

by LLB Finance Reporter
5th Aug 20 10:57 am

WHSmith is the latest firm to announced redundancies on the high street as they are looking to cut up to 1,500 jobs.

The retailer said recovery from the crisis has remained slow and their revenue dropped by 57% in July, and are expecting to lose up to £75m in the year to August. WHSmith have started consultations with staff.

WHSmith group chief executive Carl Cowling said: “In our travel business, while we are beginning to see early signs of recovery in some of our markets, the speed of recovery continues to be slow.

“At the same time, while there has been some progress in our high street business, it does continue to be adversely affected by low levels of footfall.

“As a result, we now need to take further action to reduce costs across our businesses.

“I regret that this will have an impact on a significant number of colleagues whose roles will be affected by these necessary actions, and we will do everything we can to support them at this challenging time.”

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