HAMLEYS: Job cuts unveiled

Hamleys has announced redundancies as part of a restructuring of its head office.
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The retail giant has not yet announced the final number of employees to face job losses, but has confirmed that the plans will not affect sales staff.

Despite reporting last month that its sales of wooden toys, teddy bears and spinning tops were up, the firm has seen a huge rise in the price of toys.

In a statement, the company said:

“Last year Hamleys predicted that toy prices would rise five to six per cent this year. That was before we had the massive jump in oil prices and very significant rises in the cost of energy.

“With consumers also having to make their household budgets stretch even further just to buy the everyday necessities, we must make sure that we have our own house in the best possible order.

“This means that the Hamleys board is looking for operational efficiencies and has decided to examine the re-structuring of the head office – a process which will end in a reduction in headcount.

“The board has not taken this decision lightly but believes the proposals are the only sensible course of action given the current economic climate. Hamleys has endeavoured to make as few job cuts as possible in the process of consulting with staff.”

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