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HMV to shed 400 jobs, reports The Times

By | Published on Tuesday 16 April 2013

HMV

After the little moment of joy that followed the news that HMV had been able to come out of administration with many more stores still operational than most of us had expected, now the reality check of the challenge new owners Hilco face in making the flagging entertainment retail firm a commercially viable concern.

Management put in place by Hilco at the revamped HMV UK have let their staff know that in the region of 400 jobs will now be cut across the company’s 141 store chain. The Times says it has seen a memo which states that the cuts will affect all roles, including cashiers, supervisors and security guards.

As previously reported, when Hilco finally took control of HMV UK earlier this month it also announced that several stores previously earmarked for closure had been saved from the cull. However, job losses were always expected, and it looks like they will come sooner rather than later.

New CEO Ian Topping also announced, shortly after the purchase was confirmed, that HMV UK will adopt a similar strategy to the also Hilco owned and previously revamped HMV Canada business, moving its focus back to music and DVDs.



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