Daily Mirror (Northern Ireland)

WH Smith cuts 1,500 jobs in latest High St setback

Firms race to save cash after Covid

- BY TRICIA PHILLIPS

WH Smith and fashion chain M&CO have announced plans to axe almost 2,000 jobs, as bookie William Hill said it will shut 119 shops.

The latest High Street cull comes 24 hours after Pizza Express and Currys PC World said almost 2,000 jobs will go.

Retailers have led the wave of job cuts, with many restructur­ing after being impacted by lockdown. WH Smith said it would lose up to 1,500 jobs as its recovery has been “slow”.

The giant newsagent said it must cut costs because of fewer customers, with revenue 57% lower last month compared with July 2019. Chief executive Carl Cowling said:“we need to take further action to reduce costs. I regret this will have an impact on a significan­t number of colleagues.” Around 14 shops are set to close with the majority of job losses on the shop floors of sites in railway stations and airports. M&CO said it is to shut 47 stores and axe 380 jobs.

The chain, which hired administra­tors in April, said it will operate with 218 stores and 2,200 employees after completing restructur­ing.

It believes its reduced network, focused on local high streets will secure its future.

Chief executive Andy Mcgeoch said the company took a “huge financial hit” after shutting its stores in March. He added: “We reopened most stores in

June but it quickly became clear the best way to save most jobs and stores was to enter administra­tion, with a new company acquiring the assets. This has been finalised.” He added: “I’m desperatel­y sorry we couldn’t have saved all the jobs.”

William Hill is closing 119 shops as it fears customers will not come back in the same numbers.

It posted profits of £141million for the first six months of this year, compared to a loss of £63million in 2019.

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 ??  ?? WORTH A VIEW BOB Tourist glances out
WORTH A VIEW BOB Tourist glances out
 ??  ?? FEWER CUSTOMERS WH Smith branch
FEWER CUSTOMERS WH Smith branch

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