WHSmith has revealed that it may lose 1,500 jobs as Covid-19 continues to threaten high street stores.
WHSmith is set to lose around £75 million for the year to August due to the coronavirus pandemic. Sales figures were down by 57% for the month of July when compared to 2019.
WHSmith group chief executive Carl Cowling said today a ‘significant number’ of employees would be affected by cuts.
He said: ‘In our travel business, while we are beginning to see early signs of recovery in some of our markets, the speed of recovery continues to be slow.
‘At the same time, while there has been some progress in our high street business, it does continue to be adversely affected by low levels of footfall.
‘As a result, we now need to take further action to reduce costs across our businesses.
‘I regret that this will have an impact on a significant number of colleagues whose roles will be affected by these necessary actions, and we will do everything we can to support them at this challenging time.’
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