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Category: Business, Economics and Finance / Company News / Food and Beverage / Retail

Big W to cut jobs on poor performance, will post loss

Thursday, 7 Jul 2016 12:10:58 | Thuy Ong

A shopper inspects a garment in a department store (ABC News: Giulio Saggin, file photo)

Discount department store Big W plans to cut more than 180 jobs across the country as it flags poor performance in its stores and a loss in the 2015-16 financial year.

In a statement, a spokesperson for Big W said the company would be combining two manager positions into one single role across every store in Australia.

"It's a challenging time in the retail market," the spokesperson said, adding that a review is currently under way.

"This poor performance requires us to make some changes.

"Big W has asked managers to ensure that their staff hours are aligned with peak customer shopping times."

The spokesperson said that some stores would have increased weekend or evening work depending on demand from shoppers.

Recent figures from the Australian Bureau of Statistics found retail sales ticked just a modest 0.2 per cent higher in May, even as a Reserve Bank rate cut that month failed to spur more spending.

The lack of spending has been partly attributed to an unseasonably warm start to winter.

Big W is a division of Woolworths and employs almost 23,000 people across 186 stores.

Woolworths shares were 0.8 per cent higher at $20.66, by 2:08pm (AEST).

AustraliaPlus


 

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