Job cuts on the cards at EDCON
- Published on 4 Feb 2015
- HR Pulse News Desk
SA’s biggest non-food retailer, Edcon Holdings Pty Ltd, plans to cut jobs as seeks a return to profit. “Edcon confirms that it has initiated a process to eliminate operational inefficiencies. This process may result in a reduction of headcount within Edcon’s head office. While we cannot confirm numbers as yet, Edcon has commenced the process of consultation with all the affected employees. Any possible job losses are regrettable and Edcon’s immediate focus is on supporting employees,” a company spokesperson indicated on Monday.
The process includes the streamlining of roles and responsibilities, the consolidation of certain functions, the elimination of duplications and the leveraging of technological opportunities. The Johannesburg-based owner of the Edgars and Jet chains, itself owned by U.S. private equity firm Bain Capital Partners LLC, said in November that it lost R1.1 billion in the six months through 27 September. The company employs more than 20,000 permanent staff, according to its website.
