Homebase to cut a third of head office numbers
Homebase is to cut its head office staff by a third as part of parent Hilco’s attempt to return the chain to the black.
Some 300 staff will go by November. Since Hilco bought Homebase for £1 in May from Australian group Wesfarmers, it has closed 17 branches and plans to close another 23, leaving 210.
The 24 stores that Wesfarmers converted to its Bunnings format will become Homebase branches again.
There has been speculation that Homebase follow the recent example of other struggling retailers by opting for a VCA to close further stores and cut rents.
‘We have not taken this decision lightly but decisive action is required to start rebuilding Homebase’s position in the UK market. We will be providing as much support as we can to help those affected through this difficult time,’ said Damian McGloughlin, Homebase chief executive.