1. How much has Wilko’s sales decreased since the start of the pandemic?
Wilko To Cut Over 400 Jobs Amid Struggling Sales Post-Pandemic
Wilko, the British discount store chain, has announced plans to cut more than 400 jobs as the firm grapples with poor sales in the wake of the Covid-19 pandemic.
The retailer, which was founded 80 years ago, said that it had “no choice” but to make the cuts in order to recover from the £60 million annual loss. The cuts will also include reductions to store opening hours.
Why is Wilko Making the Cuts?
Wilko said that the pandemic has had an “enormous impact” on its business, with an increase in online sales not enough to offset the losses. Furthermore, forced store closures and reduced opening hours meant that Wilko faced a significant drop in customers.
According to Matt Dawson, Wilko’s chief financial officer, the cuts are necessary to ensure the company’s “long-term future”.
How Many Jobs Will Be Cut?
The company said it aims to cut 428 jobs and 163 roles will also be cut in stores, with the remainder of the cuts being made in the firm’s head office and distribution networks. Wilko also said that it would explore voluntary redundancies and other options “where possible”.
What Other Changes Will the Company Make?
As well as job cuts, Wilko also announced that it will be making changes to its store opening hours and staff hours. The retailer said that it would reduce its operating hours and close stores earlier in the evenings.
Wilko’s decision to axe over 400 jobs is yet another sign of the devastating impact the Covid-19 pandemic has had on the retail industry. Wilko’s hope is that these cuts will help the firm recover and ensure its long-term future.
- Wilko announced plans to cut over 400 jobs
- The company faced a £60 million annual loss due to the pandemic
- Cuts to store opening hours will also be made
- Wilko will explore voluntary redundancies and other options “where possible”