BusinessBusiness RecoveryWoolworths culls 450 jobs

Woolworths culls 450 jobs

Hundreds of retail giant's support staff in London HQ and Rochdale office lose their jobs

450 staff at Woolworths have been made redundant as administrators from
Deloitte take drastic steps to put the ailing retail giant into decent shape for
a sell-off.

Last week, the troubled high street chain had a massive clearance sale which
generated its biggest ever day’s trading, but insolvency practitioners at
Deloitte have still had to make major cuts to its workforce.

The staff affected work at Woolworths’ London HQ and another office in
Rochdale.

The Independent reported that some staff will receive redundancy cheques of
just £385 for each year of service.

Neville Kahn, the joint administrator at Deloitte, said that he expects
stores will remain open beyond Christmas and that staff will be paid in full. He
added: ‘We have today launched Woolworths’ biggest ever sale, which is
complementary to and will not adversely impact upon our efforts to sell the
business.’

Related Articles

Big Four insolvency specialist joins Gibson Hewitt

Business Recovery Big Four insolvency specialist joins Gibson Hewitt

1y Richard Crump, Writer
Due diligence on BHS 'extensive' GT partner tells MPs

Accounting Firms Due diligence on BHS 'extensive' GT partner tells MPs

2y Chris Warmoll, Writer
MPs hear from trio of Big Four firms over BHS advice

Accounting Firms MPs hear from trio of Big Four firms over BHS advice

2y Chris Warmoll, Writer
Buyers found for two Powa companies

Business Recovery Buyers found for two Powa companies

2y Chris Warmoll, Writer
Deloitte announce redundancies at Powa Technologies

Business Recovery Deloitte announce redundancies at Powa Technologies

2y Chris Warmoll, Writer
Taking Stock: Spotting accounting flaws is child’s play

Audit Taking Stock: Spotting accounting flaws is child’s play

2y Taking Stock
Deloitte MG Rover appeal set for new date

Business Recovery Deloitte MG Rover appeal set for new date

3y Chris Warmoll, Writer
Deloitte to oversee rescue deal at Austin Reed

Accounting Firms Deloitte to oversee rescue deal at Austin Reed

3y Richard Crump, Writer