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Wilko Set to Shed Thousands of Jobs Blaming Pound Collapse

Wilko Retail Ltd is one of the most famous British high-street chain, which sells Homewares and Household Goods. Currently Retailer Wilko is Set to Shed Thousands of Jobs, blaming a rise in costs becuase of the pound's Brexit-induced slump.

It said it had entered into redundancy talks with nearly 4,000 staff.

The discount chain said, following a review of its operating functions, changes are required to "ensure it is best placed to continue to thrive within an ever-changing retail landscape".

Wilko, which opened a store in Truro a few months ago and also has outlets in St Austell, Redruth and Falmouth, said it was consulting with 3,900 of its store supervisory staff about a new management structure, with trade union the GMB involved.

Wilko Set to Shed Thousands of Jobs Blaming Pound Collapse

It added that 1,000 new senior supervisor roles would be created as part of the shake-up, as well as a "significant amount" of customer service roles.

The move comes after Wilko posted an 80% plunge in pre-tax profits to £5.1 million in the year to January 28, with the firm pointing to "uncertain economic and geopolitical events", the collapse in sterling and the introduction of the national living wage.

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