All UK Carphone Warehouse stores are set to close with an estimated 2,900 jobs losses, Dixons Carphone has said.
The retailer released a statement in which it said the move to close the 531 stores was 'the nest step in its transformation' and announced it will be flogging phones in its 305 larger Currys PCWorld stores and online in future.
According to the Mirror, around 40 percent or 1,800 staff members will be offered new roles within the company, while 2,900 are expected to lose their jobs.
The statement read: "Dixons Carphone will go well beyond legal obligations in financial and other support for all affected colleagues.
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"There's never an easy time for an announcement like this, but the turbulent times ahead only underline the importance of acting now, to ensure a business fit for the future."
Chief executive Alex Baldock said: "Today's tough decision is an essential part of that, the next step in making our UK mobile business a success for customers, colleagues and other shareholders.
"Clearly, with unsustainable losses of £90m expected this year, mobile is currently holding back the whole business.
"There's never an easy time for an announcement like this, but the turbulent times ahead only underline the importance of acting now."
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He added: "I don't underestimate how upsetting this news will be for our colleagues, and we'll treat everyone with honesty, respect and care.
"We're working hard to look after those colleagues we can't find new roles for, financially and otherwise. We'll pay enhanced redundancy, any bonuses, honour their share awards, and help them find new jobs through an outplacement programme.
"We recognise our responsibilities towards our colleagues and communities, and intend to fulfil them."
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He went on to explain that 'customers are increasingly heading, not just to our large and growing online business, but into our big stores, where they can find all the experts and tech they need'. Adding that this meant the smaller, mobile-only stores were seeing less footfall and losing money as a result.
He continued: "That's why we're committed to our more than 300 big stores around the UK, why we're investing tens of millions of pounds in them and in the thousands of expert colleagues who work in them. But it's also why sadly we have to close the small stores."
The closures will not affect the 70 Carphone Warehouse stores in the Republic of Ireland or internationally, Sky News reports.
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Featured Image Credit: PA
Topics: uk news
