Mo Gosfield
Well-known member
- Aug 11, 2010
- 6,362
Not a very good start to the year.
“More than 21,000 UK jobs have been cut or put at risk in the first three months of 2018 as retail store closures, company restructuring and Carillion’s collapse resulted in a bleak quarter.
A Press Association analysis reveals that 21,413 staff have already been made redundant or had their role threatened, most of them at established high-street chains.
Since January, Toys R Us and Maplin have filed for administration, while New Look and Select are closing stores. Last week, the Bargain Booze owner Conviviality said it planned to call in administrators in the next 10 days, with 2,600 jobs at risk. The dining sector has also suffered, with Prezzo, Byron and Jamie’s Italian shutting restaurants and culling hundreds of jobs.
Retailers have been hammered by Brexit-fuelled inflation, soaring business rates and falling consumer confidence.
Supermarket giants have also made deep cuts to shop floor staff, with Morrisons, Sainsbury’s and Tesco axing 5,200 roles between them.”
Retailers have also been hammered by on-line shopping, which has more than doubled in sales in the last five years and continues to rise. Toys R Us admitted that their failure to exploit the online market was their ultimate downfall. Have a look at Amazon figures and you will get a truer reflection of what is happening in the market place.
The supermarket cuts reflect streamlining in their larger stores, where they are losing business. All their growth is now in local/convenience stores, which they are continuing to open at a rapid rate. The larger stores need more labour and thats where cuts are being made, principally in security, checkout and admin areas.