Boots set to slash 4,000 jobs

Boots is reportedly set to slash almost 4,000 roles as it seeks to restructure its head office and store teams.

The company said it is “moving swiftly” to address the impact of Covid-19 on the Boots business by accelerating its transformation plan.

The proposed plan included a reorganisation of the Boots store employee structure, the closure of 48 Boots Opticians stores and an additional 20% headcount reduction in the UK support office.

The reorganisation actions will impact more than 4,000 positions, or 7% of the workforce, which Boots said are “subject to labor consultation”.

The Boots Transformation Plan also includes increased investment and focus on the Boots omnichannel strategy and is designed to “drive future growth” in the company’s UK market.

Executive vice chairman and CEO Stefano Pessina said: “Prior to the pandemic our financial performance for fiscal 2020 was on track with our expectations. However, this unprecedented global crisis led to a loss in the quarter as stay-at-home orders affected all of our markets.”