UK-based department store chain Debenhams is planning to lay off nearly 320 store management jobs as part of its cost-cutting measures.
As part of the new initiative, the UK-based retailer intends to remove 25% of its department store managers and introduce a new structure by the end of next month.
By laying off store management jobs, the retail company aims to save £10m per annum.
According to media input, Debenhams is planning to accommodate the affected staff members by redeploying them in available positions.
Debenhams is reported to be the latest company that will be joining other UK retailers such as Asda, B&Q, Tesco, Sainsbury’s and Morrisons , who have already implemented the cost-cutting strategy this year.
According to Debenhams, the decision to remove staff was in response to poor Christmas sales and the increasing competition from online stores.
A spokesman for the retailer said that following a store review, it had ‘identified significant cost savings by reducing the complexity of management roles in stores, as well as processes to optimise and standardise ways of working’.
Last April, a senior Debenhams official revealed that the company is planning to close around 11 warehouses and review underperforming stores in the country.