Pick n Pay to retrench staff

08 August 2013 - 03:23 By Reuters
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Pick n Pay
Pick n Pay
Image: KEVIN SUTHERLAND

Pick n Pay will cut staff at its head office and regional hubs to reduce costs.

The retailer said yesterday it had offered voluntary retrenchment packages to employees, but did not say how many jobs it aimed to cut.

The Cape Town-based company has the weakest operating margins in its industry, squeezed by costs and sliding profits. It did not say how much it expected to save.

The job cuts appear to be one of the first remedial actions taken by CEO Richard Brasher, a former Tesco UK head, who took over as head of Pick n Pay in February.

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