Feb 8, 2018
Debenhams adds to retail woes by axing 320 shop manager jobs
Struggling department store group Debenhams will cut a quarter of its in-store managers in the latest example of a UK retailer battling challenging conditions on the high street by shaking up staff and cutting jobs. Debenhams, which warned on profits after Christmas and has pledged to cut tens of millions of pounds in costs in a reorganisation led by chief executive Sergio Bucher, is axing 320 shop manager roles, echoing similar moves by other store chains. "We are reviewing our retail structure," Debenhams said on Thursday in a brief, emailed statement. The shake-up at Debenhams adds to a slew of similar announcements from UK retailers. Many high street chains, including Debenhams, "Do not have the fundamental underlying growth in sales" to fend off higher wage and input costs, Peel Hunt analyst Jonathan Pritchard said.
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