Signet to cut 99 jobs in UK
Workers at the company’s head office in the Hockley area of the city have entered a 30-day consultation period at the end of which they will learn which staff members are to lose their jobs.
A Signet spokeswoman told the Birmingham Mail: "Signet is part way through a three-year programme aimed at improving the profitability of its UK business.
"As part of this, and as on-going good business practice, Signet is currently undertaking a comprehensive review of its UK head office function with a view to ensuring the business is in the right shape for the future."
Signet, which also operates in the US, announced in May that its UK division’s net operating loss in its first quarter had increased to $3 million from a $0.2 million loss in the same period in 2011. Operating margin decreased by 190 basis points to 2%.
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