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Wetherspoons to cut a third of head office jobs

Up to 130 senior manager and staff risk to be made redundant

JD Wetherspoon - Wetherspoons to cut a third of head office jobs

JD Wetherspoon PLC (LON:JDW) is planning to cut a third of roles at its head office to make up for lost revenue and higher expenses during lockdown.

The pub chain emailed all 417 employees to warn them that up to 130 senior manager and staff risk redundancies.

READ: Wetherspoons reduces some prices after CEO sells shares

“The decision is mainly a result of a downturn in trade in the pub and restaurant industry generally, a reduction in the company’s rate of expansion and a reduction in the number of pubs operated from 955 in 2015 to 873 today,” chief executive John Hutson was quoted as saying by the Evening Standard.

“All head office employees will be affected by the process, with the exception of those working directly in Northern Ireland and the Republic of Ireland.”

Shares dipped 1% to 911.5p on Thursday late morning.

Quick facts: JD Wetherspoon

Price: 832.5 GBX

LSE:JDW
Market: LSE
Market Cap: £1 billion
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