David Jones Set To Slash 120 Aussie Jobs, Report
David Jones is reportedly cutting 120 jobs from its head office and suburban store network as the department chain refocuses its investment on digital and online retail.
The upmarket retail giant will slash 30 jobs from its Melbourne head office, and another 90 from its regional and suburban stores, according to The Australian reported on Friday, as it seeks to slim down amid a changing retail landscape.
David Jones -- which was bought by South Africa's Woolworths Holdings in 2014 for $2.2 billion -- has endured a tough few years, including a writedown of $712.5 million in 2018 due to the economic challenges facing the retail industry, and intense competition and promotions by rivals.
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It comes amid news of job cutting within several retail chains.
On Thursday, discount retailer Big W announced the first three of 30 stores to be closed over the next three years. The company will also close two distribution centres as part of a move it hopes will build a "more profitable and sustainable store and distribution network".
In May, the Reject Shop shared plans to close seven stores by the end of June after the company was unable to negotiate "acceptable" rents.
The company's chief executive quit after after the troubled retailer announced its store closures and slashed its full-year guidance to predict a loss of up to $2 million.