Collapsed retail chain major Woolworths will slash 450 jobs in what may be its first move towards mass layoff to be witnessed in the coming days, media reports say. "About 450 head office and support staff are being made redundant by Woolworths as the turmoil surrounding the stricken retail chain's future continues," the Guardian website said. Deloitte, which has been appointed as the administrator for the collapsed retail chain said that the job cuts would be in Woolworths' Central London and Rochdale offices and not in the 815 stores of Entertainment UK, its DVD and CD distribution business, The Times said.
Further, the Guardian reported that Woolworths, which employs more than 25,000 people, announced job cuts on a day when it saw its best sales day in its 99-years history.
The daily also quoted Kahn as saying that administrators, supported by management, were actively looking for a purchaser for the business as a going concern and discussions were being held with a number of interested parties.
"We are working hard to ensure that any sale of the business, in whole or in part, will preserve jobs," Kahn added.