More than 21,000 jobs already axed in 2018

Retail bearing brunt of cuts, along with Carillion collapse

A staggering 21,000 jobs have been axed in the first three months of the year as retail store closures, company restructurings and Carillion’s collapse resulted in a bleak quarter.

Numbers crunched by the Press Association show approximately 21,413 staff have been made redundant or seen their role put under threat, with the bulk of them working for well-known high street chains.

Since January Toys R Us and Maplin have filed for administration, while fashion retailers such as New Look and Select have embarked on radical store closure programmes.

Only last week, Bargain Booze owner Conviviality said it plans to call in administrators within the next 10 days, putting 2,600 jobs at risk.

Piling on the misery has been the under-pressure casual dining sector, with Prezzo, Byron and Jamie’s Italian all shutting restaurants and culling hundreds of jobs.

Retailers have been hammered by Brexit-fuelled inflation, soaring business rates and falling consumer confidence, but experts also point to structural changes in the sector.

Duncan Brewer, partner at consultancy Oliver Wyman, said: “What we’re seeing play out is a mixture of different things.

“Cost is one of the biggest pressures out there. The devaluation of sterling, increased labour costs and business rates will be having an effect.”

Supermarket giants have also made swingeing cuts to shop floor staff, with Morrisons, Sainsbury’s and Tesco axing 5,200 roles between them.

Mr Brewer added that the sector’s future prospects are dependent on consumer confidence, which has tanked since the Brexit vote.

Elsewhere, the collapse of outsourcer Carillion has so far resulted in over 1,700 job losses, with more pain expected.

British Gas owner Centrica has recently announced it will axe 4,000 roles over the next three years and there was the closure of Norwich’s Colman’s mustard factory, which saw 113 workers culled, plus Coca-Cola shutting sites in Milton Keynes and Northampton.

Picture: Dougie Nicolson. Toys R Us was one of the major casualties of what have been big job losses since the turn of the year in the retail sector.