HMV

HMVNewly appointed HMV owner, Hilco, is reported to cut 400 jobs within the business, an internal memo suggests.

This comes in a bid to revive the high street retailer, since fearing closure earlier this year.

A memo to staff obtained by The Times, shows many store positions are under threat, across 141 stores.

Hilco is also looking to cut the stores security staff, cashier roles and cut payrolls by 7.8 million, with HMV’s part-time work force to grow by at least 50%.

Last week, Hilco announced that they had completed its acquisition of HMV last week.

Source: CVG

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