Saturday, August 8, 2020

Coronavirus: 5,300 jobs created at Boots and John Lewis | Economic news

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The High Street Boots chain and the John Lewis department store chain are cutting more than 5,000 jobs due to the impact of COVID-19.

Boots plans to cut 4,000 workers in major upheaval John lewis said eight of its stores were to remain closed after the lockout, endangering 1,300 workers.

The restructuring of Boots will affect around 7% of its workforce, notably in its help desk in Nottingham.

Picture:
John Lewis said eight stores, including his Birmingham department store, would not reopen

The roles of deputy and assistant store manager and customer advisor across the country also face the ax, while 48 Boots Opticians sites will close.

The closures of John Lewis, which include two full-size department stores in Birmingham and Watford, as well as six smaller stores, have been blamed for the impact of pandemic to accelerate the transition from in-store purchases to online purchases.

The boots indicated a similar trend.

The cuts add to the thousands already announced this week – with the logistics firm DHL 2,200 jobs cut at Jaguar Land Rover, newspaper publisher Reach the abolition of 550 workers and Ready to eat closure of 30 stores endangering at least 1,000 jobs.

Meanwhile, the British boss of Burger King warned in a BBC interview that up to 10% of its 530 stores may not be able to survive – threatening up to 1,600 jobs.

Boots and John Lewis announcements come a day after a “job plan” announced by Rishi Sunak which proposed measures, notably a reduction in VAT for the hotel and tourism sector, but was criticized by the retail sector which did not receive similar aid.



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Shoe stores were among the “essential” retailers allowed to stay open during the lockdown, but sales have still dropped 48% in the past three months.

The company, owned by the US-listed Walgreens Boots Alliance, said the cuts represented an “acceleration” of its transformation plans to improve the company’s profitability.

Sebastian James, Managing Director of Boots UK, said: “The proposals announced today are decisive actions to accelerate our transformation plan, enabling Boots to continue to play its vital role in the UK healthcare system and ” ensure long-term profitable growth.

“I am very grateful to all our colleagues for their dedication during the last difficult months.

“They have volunteered to support their communities, our customers and the NHS during this time, and I am extremely proud to serve alongside them.”

“In doing so, we are building stronger, more modern boots for our customers, patients and colleagues.

“We recognize that today’s proposals will be very difficult for the remarkable people who make up the heart of our business, and we will do everything in our power to provide the most comprehensive support during this time.”

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Walgreens said in a quarterly update to investors that the impact of COVID-19 on sales in the last quarter was $ 750 million (£ 584 million), mainly reflecting its international division which includes Boots.

He said attendance had dropped 85% in April, with customers being asked to leave their homes only for food and medicine.

“While most Boots stores remained open during the UK closure to provide communities with essential pharmacy and healthcare, our largest beauty and fragrance counters were closed,” said Walgreens.

He said that the performance of the British company, combined with the continuing uncertainty linked to the pandemic, would mean a depreciation of 2 billion dollars (1.6 billion pounds sterling) on ​​its value, which would cause a loss of 1.7 billion dollars (1.3 billion pounds sterling) for the whole group. for the third quarter.

Neil Saunders, Managing Director of GlobalData Retail, said: “Even before this crisis, Boots had problems.

“Many of her stores are in need of investment, her offer lacks clarity and she faces increasing competition from specialist and generalist beauty players.

“The pandemic and its aftermath will only exacerbate these problems and have a very negative impact on the business – this is one of the reasons why Walgreens quickly noted the intrinsic value of the division.”

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