Woolworths has revealed 500 jobs will go in back office and supply roles as part of an overhaul of its business amid tough competition in the retail industry.
Key points:
- 27 stores and three hotels to close, with five Big W stores “likely to close”
- Another 34 underperforming stores may not have their leases renewed
- Woolworths predicts pre-tax profit of $2.5b, but will take $1b in write-downs from that
The retailer has announced that 30 stores will close, including 17 supermarkets in Australia, six supermarkets in New Zealand, four Woolworths metro stores and three hotels.
These stores are all expected to shut before the end of the current financial year….
Read the full article at: http://www.abc.net.au/news/2016-07-25/woolworths-to-cut-500-jobs/7657166