Ideal World to reduce staff by 15%

[Graham]

<img src="http://74.63.193.250/images/channels/idealworld/idealworld.gif" border="0" alt="Ideal World" title="Ideal World" vspace="4" align="right" />Following a review of Ideal Shopping Direct PLC's departmental structures throughout the business, They will be reducing the overall headcount by approximately 15% resulting in the loss of around 70 positions. They have a programme to phase out temporary staff by the end of December 2008 and are also offering the option of voluntary redundancy. Ideal Shopping Direct PLC have also identified certain full-time positions whose responsibilities could be absorbed or amalgamated with other existing positions.<br /><br />With effect from today, Ideal Shopping Direct PLC are entering into a consultation period of at least 30 days.<br /><br />Commenting on the redundancies, Mike Hancox, Chief Executive said:<br /><br />“The decision to reduce headcount is a painful one. However, a lean operation is a prerequisite of competing in the market place in the current economic climate and we have committed to focusing on the existing core fundamentals of the business, and cutting cost, in order to achieve the best possible results and sustain the Company heading into 2009.”<br /><br />

 

[icr24350]

As I've said in another thread, I hate to see anyone lose their job, but it does look like the new broom is going to sweep a lot of people out of jobs. Hopefully, IW will end up leaner and better once he is through. But as I say, I feel for anyone at IW now, I went through this same thing 2 years' ago, and it is not a nice feeling. I don't know how long IW has been on the go for, but I cannot see the packages on offer being worth much.