After a dismal Christmas trading period and profit warning (resulting in a dip of 18% in share value), the Debenham’s Group has announced that 320 jobs will be shed, according to Retail Week.
The move could hit 25 per cent of store management roles across retailer, with a new structure expected to be rolled out by the end of next month.
As part of ongoing efforts to turn around the company’s fortunes, last month Debenhams earmarked another £10 million in savings for this financial year and £20 million extra annually. In April of 2017 Debenham’s Chief Executive, Sergio Bucher, announced plans to close 11 warehouses and put up to 10 stores under review, plunging at least 220 jobs into uncertainty
