Wilco’s CEO said the company was “acting quickly” to implement a new organizational structure following reports that more than 400 jobs would be cut.
This follows the company’s unveiling of plans to outsource its customer service operations, followed by securing a £40m two-year revolving credit facility with Hilco to accelerate its turnaround plan I was allowed to.
Wilko appointed former Benson’s for Beds CEO Mark Jackson, backing the proposal in December.
In response to recent reports, Jackson said, “We have already begun a turnaround program to move Wilco forward.
“As part of this, we quickly identified key changes to Wilko’s operating model to stabilize the business and enable it to thrive again. This includes changes in the management structure that
“Due to ongoing conversations, we are unable to comment on the number of team members affected, but it goes without saying that we fully support the individuals affected.
“We know change is unsettling for our team members and the wider business, and we are acting quickly to implement a new organizational structure.”