Retail round-up: Amazon to hire 1,000 more staff, Sainsbury’s deal puts 600 jobs at
Amazon to hire 1,000 more staff than expected
Amazon plans to hire 1,000 extra staff earlier than expected in the UK as it extends its Prime Now one-hour delivery option to more postcodes, The Guardian reported.
Amazon will create 3,500 permanent full-time jobs in the UK this year. This will take its total workforce to 15,500 as its Prime Now fast-delivery service reaches more than a third of the UK population.
Doug Gurr, Amazon UK’s new chief executive, stated that the company was continuing with "business as usual" following the Brexit vote.
Sainsbury’s deal to buy Home Retail Group puts 600 jobs at risk
Sainsbury’s has revealed that its £1.4bn deal to buy Argos owner Home Retail Group could affect 600 head office jobs, according to The Independent.
In a document warning about the potential impact of Brexit on Sainsbury's, the supermarket said it may cut 400 to 600 roles across its corporate and support functions.
However, Sainsbury’s has promised to create more than 1,000 shopfloor jobs in the next three years. The deal to acquire Home Retail Group is expected to close in September.
Asda warning of price war hits rivals' shares
Walmart sparked a fall in Tesco, Sainsbury's and Morrisons shares after claiming Asda will give priority to sales volume over profit, reported The Guardian.
HSBC analyst David McCarthy warned that Asda is preparing for a supermarket price war that might “wipe out” its rivals’ profits. Over £1.6bn was lost from the value of the UK’s three biggest listed supermarkets after Walmart's warning.
Tesco’s shares fell by 8%, Sainsbury’s 4%, and Morrisons more than 7%.
MPs to broaden enquiry into BHS scandal
MPs investigating the collapse of BHS have called for the Financial Reporting Council (FRC) to inspect the work done by PricewaterhouseCoopers (PwC) in auditing BHS and Sir Philip Green’s other companies.
The probe will focus on why PwC had signed off BHS as a going concern when it was being propped up by its then parent company, Taveta, the Green family’s investment firm.
MPs want FRC to examine PwC's previous audits of BHS and its audits of other Green companies connected with the collapsed retailer.
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