Tuesday, September 26, 2017

Hilco to axe hundreds of HMV jobs

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Entertainment retailer HMV is set to cut hundreds of jobs just days after being saved from administration, it has been reported.

Staff have been warned that cashiers working outside the top 30 turnover stores will face the axe while supervisors working outside of the top 20 branches also face the threat of losing their jobs as well as those heading up the loss prevention team, according to The Sun.

Earlier this month, restructuring specialists Hilco acquired the business and certain assets of the retailer and it had been hoped that over 2,500 jobs would be saved in the process, though a memo sent to staff implied that further changes were imminent.

In a memo to staff, the retailer said: “We need to look to the future and ensure that our current cost structure is fit for purpose, reflecting future trading forecasts, and meets the changing needs of the store estate.”

Hilco and HMV were unavailable for comment.

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