Essential reading for retailers and suppliers in the home improvement market

Homebase set to axe hundreds of jobs

Published: 26 January 2009
Senior staff across 300 of DIY chain’s stores are at risk of redundancy following a 10% decline in sales over the Christmas period.
Homebase set to axe hundreds of jobs
According to reports by The Sun, senior staff were called to meetings last week to be informed of a 'restructuring' that is likely to take place this Thursday.

An inside source revealed: "It's going to affect management positions, trading managers, sales managers and supervisors."

The cutbacks are part of a cost saving exercise after Homebase's latest trading statement for the 18 weeks to January 3, showed a 10.2% drop in like-for-like sales.

Commenting on the results earlier this month, chief executive of parent company Home Retail Group, Terry Duddy said: "You will see job cuts, but what there won't be is a huge swinging axe that comes through the business. It will be relative to individual stores."

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