According to reports, hardware retailer Bunnings is reportedly planning on laying off up to 300 workers.
The Australian suggests that up to 300 jobs could be lost in the company’s training and communications services. However, it’s believed that the figure is inaccurate.
According to the Australian, the cuts could come through attrition and not the filling of vacant positions.
It is understood that the majority of the affected workers will not lose their jobs on the frontline.
The announcement comes as the company undergoes a review of its support center and structure.
In addition, it has recently restructured its learning and development teams.
Due to the rising interest rates and the increasing cost of living, Australian retailers are expected to feel the impact of the country’s economic slowdown in the coming months.
According to economists, the consumer spending will likely slow down in January.
One of Australia’s largest retailers, Wesfarmers-owned home improvement store chain, Bunnings, employs about 53,000 people in the country.
It has about 1600 employees in its Melbourne head office. According to The Australian, the company will try to redeploy affected workers across its various divisions.