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Edcon to cut some of its 3,000 head-office jobs

9 Feb 2016

Edcon, the retailer that owns brands such as Edgars, CNA and Jet, will cut jobs at its head office as part of its turnaround strategy.

Edcon CE Bernie Brookes.<p>Photographer: Martin Rhodes<br>Image source:

Edcon CE Bernie Brookes.
Photographer: Martin Rhodes

Image source: BDlive

"The process commenced on 5 February - it is still too early to have a final number at this stage; definitely not two-thirds of workforce. We anticipate that the process will only be concluded around March," a spokesperson said.

Media reports claiming it would slash two-thirds of its 3,000 head office staff were "factually incorrect", the company said. This is the second round of job cuts at its head office, following last February's reduction.

Edcon was bought by Bain Capital for R25bn in 2007 in a deal that burdened the retail group with debt.

The company, under new CEO Bernie Brookes, was looking to take back market share through boosting store space productivity and reviving its high-margin private label brands such as Kelso at its ailing Edgars chain.

The job cuts will not affect stores.

Source: Business Day

Source: I-Net Bridge

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