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City & Business

JOB CUTS LOOM FOR HMV UK

Tuesday June 5,2007

By Andrew Johnson, Associate City Editor

Up to 100 jobs are to be lost at the HMV music chain as part of a strategic review by group chief executive Simon Fox, the company confirmed last night.

Between 90 and 100 posts are expected to go at HMV UK, including buyers and stockroom controllers.

The company issued staff with details of the changes yesterday and started a 90-day consultation period. A spokesman said it hoped to redeploy many of the staff in different areas of the business.

The cuts will amount to about 2 per cent of the retailer’s UK workforce and do not affect sister company, bookseller Waterstone’s. “It is part of the review that began in March and is about changing resources to become more efficient,” said a source.

HMV has seen sales of CDs hit by fierce competition from internet downloading and the supermarkets.

Three months ago, Fox unveiled a group-wide strategic review which analysts expect to result in the closure of a handful of HMV shops.

● US clothing group Gap is expected to announce a European re­struc­t­uring today, including UK job losses.
Peter Cunliffe


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