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.
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.