BHS to cut a third of head office jobs, as the department store chain
BHS is planning to axe around a third of its head office jobs, as part of measures to keep the business afloat.
The department store chain has placed around 150 jobs from its 450-strong head office into consultation this morning, a spokeswoman told City PM this morning. She declined to comment further.
Around 100 roles have already been lost since Retail Acquisitions took over the running of the company from Philip Green last year. The spokeswoman confirmed that "several vacant roles" had been closed as part of the group's cost-cutting measures to ensure the viable stores can continue to operate.
Read more: Everything we know about Retail Acquisitions
A further 220 management roles in stores are expected to be shed as the group consolidates two layers of management into one.
The company currently employs around 8,500 people.
Yesterday it emerged that BHS was seeking creditor approval to enter a CVA. The creditors will vote on the CVA on 23 March 2016 – the company will need to secure at least 75 per cent creditor approval to move ahead with the CVAs.
KPMG will spend the next three weeks in talks with creditors to ensure they understand the full detail of the proposal.