Warehouse Group to cut 130 jobs

Warehouse Group to cut 130 jobs
The CEO says job losses were necessary to increase profitability (file)

The Warehouse Group is looking to cut around 130 jobs as a result of restructuring and streamlining.

The Group told Newshub that discussions were underway over combining the leadership of the separate companies included in The Group - The Warehouse, Noel Leeming, Warehouse Stationery and Torpedo7.

There was also consultation over "moving the support structures that services these brands, to be group-wide".

Group CEO Nick Grayston says the streamlining was necessary to increase profitability.

"Our teams have shared their views on our proposed changes and we can now confirm team structures," he said.

"Discussions with team members are ongoing with a view to supporting those who are impacted through a redeployment process.

"Once the redeployment process concludes, with appointments made into newly formed roles, we will be able to confirm the number of people who may leave the business. At this stage, we are anticipating a net reduction of around 130 roles and we will be doing everything we can to support our team members during this time."

Mr Grayston says between $15 million and $20m is expected to be saved as a result.

Newshub.

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