The Boots Company has launched its £100m cost-cutting exercise by shedding 1,000 jobs, mostly from its chemist stores.
LONDON (Brand Republic) - The Boots Company has launched its £100m cost-cutting exercise by shedding 1,000 jobs, mostly from its chemist stores.
Plans for reduced costs were announced last November in a restructuring programme ordered by new chief executive Steve Russell and which will last until March 2002. A Boots spokesman denied that any big store closures would take place, adding it was too early to be specific about the exact number of redundancies to be made.
Boots employs around 84,000 staff worldwide, of which 55,000 are employed in the UK. A second round of job cuts is expected to take place in less than two years -- store staff numbers have already been reduced by 1,000 as the result of a separate drive to cut £160m from costs by 2004.
More details of the cost-cutting programme, of which job reduction is just one component, are expected to be revealed in two months’ time.