Wilko - the Retail giant - Announces thousands of redundancies

Wilko staff facing thousands of redundancies as profits fall by 80%

Wilko has entered redundancy consultation with nearly 4,000 staff, weeks after warning about a rise in costs after the pound’s Brexit-induced collapse. Wilko has been struggling for many months and commentators are even speculating on the future of the firm.

Wilko employs thousands of staff up and down the country and potentially this could create a huge panic amongst it’s many employees. Hard Brexit means even further losses could be in play for the staff who leave, as finding new employment will become more difficult.

Wilko will create 1,000 new senior supervisor roles will be created as part of the shake-up, as well as a “significant amount” of customer service roles.

The move comes after Wilko posted an 80% plunge in pre-tax profits to £5.1m in the year to 28 January 28, with the firm pointing to “uncertain economic and geopolitical events”, the collapse in sterling and the introduction of the national living wage.

With sterling dropping even further and expected falls to make fall in line with the Euro most businesses who rely on imports from Europe will find inflation hitting their shop floors.

More to follow as it comes.

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