Littlewoods Lay-Offs and Cuts Will Reduce Losses to Pounds 114m

Summary

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LITTLEWOODS owner Shop Direct is set to file accounts at Companies House that will reveal the Pounds 1.7 billion home shopping giant made losses of Pounds 114 million in the year to April.

The company is undergoing a huge transformation that has seen 10,000 jobs cut in the past six years - about a third of its workforce. Job cuts and closures of sites such as warehouses and distribution depots contributed to exceptional losses of Pounds 107 million during the year.

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Extract

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Littlewoods Lay-Offs and Cuts Will Reduce Losses to Pounds 114m

Shop Direct finance director Steve Makin said the loss was an improvemen...

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