Wilko has announced plans to cut more than 400 jobs as part of a restructuring effort following a decline in sales. The value retailer, which employs 16,000 staff across 401 stores, is reducing hours for team supervisors in 150 stores, resulting in about 150 full-time equivalent job losses. Additionally, around 150 assistant store managers, 95 contact centre workers in Worksop, and dozens of head office roles are affected.
The cuts come as the company struggles with a fall in high street footfall, which remains more than 10% below pre-pandemic levels. Wilko borrowed £40m from restructuring specialist Hilco and changed its leadership team after falling to a loss. At least one credit insurer has withdrawn cover, prompting some suppliers to pause deliveries.
Chief executive Mark Jackson said: 'We've identified significant changes to the Wilko operating model to enable us to stabilise the business and then thrive again. This includes some proposed changes to our management structure at both our stores and head office.' He added that the company is fully supporting affected individuals.
The GMB union, which is consulting with Wilko to reduce job losses, described the situation as a 'fight for survival'. National officer Nadine Houghton said: 'We are seeing continued and increasing job losses throughout the retail sector and this is something that warrants an urgent, strategic response from the government.'
