By Emily Bencic
Woolworths will incur restructuring costs of $959 million as it implements a new operating model to drive improved accountability and performance. It will cut 500 roles from its support office and supply chain while 1,000 team members will be moved from the group office into businesses.
Big W
Big W has been separated from EziBuy as the company explores options for a possible sale of EziBuy. The expected synergies between the two businesses have not been realised, and in many cases, have resulted in dis-synergies for both businesses.
Functions across sourcing, online, quality, procurement, logistics and other functions, that were previously group led will be integrated into Big W. Five of the 186 Big W stores have been identified as stores that are likely to close in the next three years based on current trading performance at or before their lease expiry.
There are 18 additional stores where the company is recognising an impairment of store assets and onerous lease obligations where necessary given a reassessment of the likely trading performance of the stores.
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This story first appeared in Appliance Retailer.