Myer axes 50 management staff, marketing lead
The cuts are the second round of large scale lay-offs for the department store in the last eight months, with over 30 executive positions cut last August, in order to reduce costs and barriers between the business and its customers – bringing the total number of executives lost within the last year in the realm of 80.
“We have to place the customer first, in every decision we make and every action we take,” a Myer spokesperson said.
“From doing a thorough review of our entire store management structure and a further review of the store support office… as a result of this, a number of administrative and management roles will be leaving the business to align our structure more closely with our customers.”
No customer facing team members have been affected by the cuts.
According to the spokesperson, this will enable the business to operate in a more efficient manner, improving the financial performance and shareholder value delivered.
Myer recently posted a rise in net profit for the first half FY19, increasing 3.1 per cent to $41.3 million, signalling that the brand’s customer-first turnaround strategy has some legs.
The retailer improved store layouts over the half-year, and launched the ‘My Store’ marketing campaign, which chief executive John King said had been received well by customers.
Despite this, Egan, who led the launch of the ‘My Store’ campaign, as well as the department store’s recent Christmas campaign, has been let go in this recent round of lay-offs.
“We thank Andrew for his contribution to Myer and particularly to our marketing and advertising team,” the spokesperson said. “We wish him all the best for the future.”
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.