Woolworths to Close Dozens of Stores, Cut 500 Jobs
Woolworths will slash 500 jobs and close dozens of underperforming stores in an almost $1 billion restructure.
The company has also separated its Big W department store chain from online retailer Ezibuy, ramping up speculation it is preparing for a quick sale of both entities.
Chief executive Brad Banducci, who started in the role in February, said a new operating model would see long-term performance measures introduced, including "sales per square metre" and "return on funds employed". Sydney Morning Herald – Read more…
The company has also separated its Big W department store chain from online retailer Ezibuy, ramping up speculation it is preparing for a quick sale of both entities.
Chief executive Brad Banducci, who started in the role in February, said a new operating model would see long-term performance measures introduced, including "sales per square metre" and "return on funds employed". Sydney Morning Herald – Read more…
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