Aug 11, 2020
Debenhams to cut another 2,500 jobs
Debenhams is to axe a further 2,500 jobs as it restructures management roles at stores and distribution centres, the latest in a grim series of cutbacks on the high street. "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." Debenhams has already axed more than 1,000 jobs this year and industry experts are expecting more redundancies in retail as the UK government's job retention scheme winds down, forcing employers to decide whether to retain staff or not. Springboard this week reported that footfall to all retail destinations remains a third lower than in 2019, while high streets and shopping centres - where Debenhams stores are overwhelmingly concentrated - have generally performed worse than out-of-town retail parks. Retail sales data compiled by the British Retail Consortium for July showed sales by value rising 3 per cent from 2019 levels, but most of the increases were in categories such as DIY and IT equipment.
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