Debenhams to axe 2,500 jobs – department store giant become latest COVID lockdown casualty
We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.
The UK high street chain has said 2,500 jobs will be cut as a cost saving measure to try and secure the future of the business. A spokesman for the department store said it was forced to make “difficult decisions” to ensure a “viable future” for Debenhams. He said:”We have successfully reopened 124 stores, post-lockdown, and these are currently trading ahead of management expectations.
“At the same time, the trading environment is clearly a long way from returning to normal and we have to ensure our store costs are aligned with realistic expectations.
“Those colleagues affected by redundancy have been informed and we are very grateful to them for their service and commitment to Debenhams.
“Such difficult decisions are being taken by many retailers right now, and we will continue to take all necessary steps to give Debenhams every chance of a viable future.”
It comes after the store was placed into administration twice in the past year.
More to follow…
Source: Read Full Article