Hilco to cut 400 HMV jobs – report

New HMV owner Hilco will cut a further 400 jobs at the entertainment retailer, according to reports.

The Times says that Hilco is targeting a net saving of 7.8m from HMV’s payroll. An internal staff memo has suggested that store security guards will be dropped from nearly all stores other than those deemed as high risk”.

Cashier posts are also in danger at all but the 30 top performing outlets. Also facing the chop are supervisors. Managers will be expected to fill in on the tills while part-time staff will grow to account for 50 per cent of the chain’s total workforce.

A consultation period is scheduled to last until next month.

Hilco acquired HMV earlier this month, securing the future of 140 stores. At the moment those stores employ in the region of 2,500 staff.