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Dixons Carphone (DC.)

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Dixons Carphone said to be cutting 141 jobs

04 Jul 19

LONDON (ShareCast) - (Sharecast News) - Dixons Carphone is reportedly planning to axe more than 100 jobs across its central functions.
According to Retail Week, the company is getting rid of 141 roles, most of which will be lost at its main head office in Acton.

According to an internal memo seen by Retail Week, jobs will also be lost at offices in Poole, Loughborough, Warrington and in Ireland.

Dixons Carphone is said to have launched a consultation with 190 staff as part of the proposed changes.

In its results for the year to 27 April 2019, Dixons said it swung to a statutory pre-tax loss of 259m from a profit of 289m the year before as it incurred non-headline charges of 557m for "the changing UK mobile market". The company also slashed its full-year dividend to 6.75p a share from 11.25p.

"The overall UK mobile market has seen a decline in total handset volumes as well as a change in mix as customers move away from 24 month postpay towards SIMO and more flexible credit-based contracts," it said in the results released last month.

Chief executive Alex Baldock also warned at the time of "more pain" to come in the coming year, with the mobile business set to make a "significant" loss.

"But accelerating our transformation provides certainty that this year is the trough, as during next year the legacy contractual constraints on our mobile business lift, and the integration cost benefits build," he said in the statement. "We expect Mobile will at least break even within two years, and beyond that, equipped with a stronger and unconstrained offer, we will of course aim to do better. In any case, cash generation from Mobile will be strong."

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Market Data

Currency UK Pounds
Price 145.00p
Change Today 3.75p
52 Week High 166.45p
52 Week Low 104.90p
Volume 13,730,256
Shares Issued 1,162.36m
Market Cap 1,685.42m


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