Lookers announces 1,500 job losses
The Lookers dealership group will cut 1,500 jobs in a bid to reduce costs by £50m.
It has announced it will close, consolidate or re-franchise 12 dealerships, following the 15 dealerships it identified for closure last year.
It is understood the job losses will come in the second half of the year, with redundancy consultations already ongoing.
Lookers said: “The board has carefully considered all options and regrettably considers this action as being necessary in the current environment to sustain and protect the Lookers business over the long term.”
CEO Mark Raban said: “We are having to reflect on the outlook for the group and how we must adapt to ensure a positive future in what is likely to remain an uncertain economic and industry environment.
“Against this backdrop we have taken the decision to restructure the size of the group’s dealership estate to position the business for a sustainable future, which regrettably means redundancy consultation with a number of our colleagues.
“This has been a very difficult decision and we will be supporting our people as much as possible throughout the process.
“There is still a lot more work to do, but we have the determination, platform and brand partnerships to take the business forward.”
