More Felixstowe jobs under threat as economy struggles nationally
By Derek Davis
5th Aug 2020 | Local News
Jobs could be under threat at Felixstowe's WH Smith as the company struggles nationally.
It has obviously been an incredibly tough time for retail nationally at the moment but WH Smith has been hit particularly hard.
The company has today announced that more than 1,500 jobs could be cut due to their struggles.
While there is no indication yet which stores will be affected, the Felixstowe branch in Hamilton Road, which shares its premises with the Post Office is understood to be among those whose footfall has been affected, due to the Coronavirus.
WH Smith's revenue was down 57% in July compared to this time last year and the company is projected to make a loss of more than £70 million from the year to August.
This loss of revenue is being put down to a hugely decreased number of customers due to coronavirus restrictions.
WH Smith group chief executive Carl Cowling said: "In our travel business, while we are beginning to see early signs of recovery in some of our markets, the speed of recovery continues to be slow.
"At the same time, while there has been some progress in our high street business, it does continue to be adversely affected by low levels of footfall.
"As a result, we now need to take further action to reduce costs across our businesses.
"I regret that this will have an impact on a significant number of colleagues whose roles will be affected by these necessary actions, and we will do everything we can to support them at this challenging time."
Local branch managers have not been permitted to comment.
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