100 jobs at risk at Home Retail Group
Around 100 jobs at the Home Retail Group head office in Milton Keynes could be at risk, a spokesman has confirmed.
This follows the agreed sale of Home Retail Group to Sainsbury’s last month.
A spokesman for Home Retail Group said: “We can confirm that following the sale of Homebase, there is some alignment of group functions to the smaller remaining group. Subject to a period of consultation, up to 100 jobs could be at risk. We have no further comment at this stage due to the consultation period.”
In January this year, Wesfarmers bought the Homebase brand from the Home Retail Group, which is in the process of being rebranded to Bunnings over the next five years.
Sainsbury’s has said it plans to merge Argos into concessions within its supermarkets, with chief executive Mike Coupe expecting the merger to bring savings of around £120 million.
Sainsbury’s chairman David Tyler said: “The combined business will offer a multi-product, multichannel proposition, with fast delivery networks, which we believe will be very attractive to customers and which will create value to both sets of shareholders.”
Home Retail Group chairman John Coombe added: “Argos is both an icon of the British high street and also a leader in the digital transformation of UK retailing. We are pleased that Sainsbury’s has recognised our progress and our potential with its recommended acquisition of Home Retail Group.”