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Article: Woolworths axeman faces showdown; TOUGH: Steve Johnson has been brought in to save the 99-year-old chain, but that could mean some staff at its London HQ will lose their jobs CELEBRITY APPEAL: Kelly Osbourne featured in Woolworths' TV adverts.
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- August 17, 2008
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Copyright informationCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: NEIL CRAVEN, LAUREN MILLS
AS Steve Johnson enjoys the final few days of his summer holiday, he may not be aware of a chilly welcome awaiting him at home. The man given the task of rescuing Woolworths is ready to turn the screw on senior staff and suppliers at the High Street retailer. And suppliers themselves warned this weekend that Johnson could spell disaster for their businesses.
The group's headquarters in Marylebone Road, central London, will be among the first victims of a stringent cost-cutting drive aimed at putting the retailer - which has an annual turnover of ?2.7 billion - on a more level financial footing and reinvigorating the share price.
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