WH Smith may start closing stores putting 1,500 jobs at risk - Metro

Rabu, 05 Agustus 2020

WH Smith may start closing stores putting 1,500 jobs at risk - Metro

WH Smith reveals 1,500 jobs are at risk because of coronavirus — The shop is expected to make a loss of between £70m and £75m for the year to August (Picture: PA)

WH Smith could axe up to 1,500 jobs, as the coronavirus crisis continues to wreak havoc on the high street.

The retailer’s sales were down 57% in July compared with the same month last year and the shop is expected to make a loss of between £70m and £75m for the year to August.

WHSmith group chief executive Carl Cowling said today a ‘significant number’ of employees would be affected by cuts, as the travel industry in particular struggles to recover from the pandemic.

He 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.

Shoppers wearing face coverings walk along the street in Manchester, northwest England on August 3, 2020 (Picture: AFP via Getty Images)

‘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.’

Just over half of WH Smith UK travel shops have reopened and 246 of the largest sites have started trading again.

All of its 575 high-street stores have opened – but footfall is majorly down compared to last year.

It comes as a number of other high street brands reveal they are cutting jobs, with sales plummeting amid the Covid-19 pandemic.

Boots is to make 4,000 people redundant, while Marks & Spencer is to axe up to 950 roles and Selfridges will cut 450 jobs.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

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https://news.google.com/__i/rss/rd/articles/CBMiYWh0dHBzOi8vbWV0cm8uY28udWsvMjAyMC8wOC8wNS93aC1zbWl0aC1tYXktc3RhcnQtY2xvc2luZy1zdG9yZXMtcHV0dGluZy0xNTAwLWpvYnMtcmlzay0xMzA4NTY5My_SAWVodHRwczovL21ldHJvLmNvLnVrLzIwMjAvMDgvMDUvd2gtc21pdGgtbWF5LXN0YXJ0LWNsb3Npbmctc3RvcmVzLXB1dHRpbmctMTUwMC1qb2JzLXJpc2stMTMwODU2OTMvYW1wLw?oc=5

2020-08-05 08:47:00Z
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Itil Koko

Rabu, 05 Agustus 2020

WH Smith may start closing stores putting 1,500 jobs at risk - Metro

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