Retail Giant Adapts to Digital Future Amidst Pandemic Challenges

  • The Very Group cuts 141 roles from head office and customer care teams
  • Restructure to create around 100 new roles, half in technology
  • Company proposes relocation of 500 customer care colleagues to Liverpool head office
  • Aintree site to close by summer 2021
  • CEO Henry Birch thanks employees for their hard work and commitment during pandemic

The Very Group, operator of Very.co.uk and Littlewoods.co.uk, is restructuring its business to focus on digital capabilities by cutting 141 roles from head office and customer care teams while creating around 100 new positions, half in technology. The company will also relocate 500 customer care colleagues to its Liverpool head office and close the Aintree site by summer 2021. CEO Henry Birch praised employees’ pandemic response but acknowledged the need for changes that may result in redundancies.

Factuality Level: 10
Factuality Justification: The article provides accurate information about The Very Group’s restructure, including the number of roles being cut and created, the reasons behind the changes, and the company’s plans for its employees. It also includes a quote from the group CEO, Henry Birch, which adds credibility to the report.
Noise Level: 3
Noise Justification: The article provides relevant information about The Very Group’s restructure and job changes due to the pandemic, but it could benefit from more in-depth analysis of the company’s decision-making process and potential long-term effects on the industry or workforce.
Financial Relevance: Yes
Financial Markets Impacted: The Very Group’s restructure and job cuts may impact its employees and potentially affect the company’s performance and operations.
Financial Rating Justification: The article discusses The Very Group’s decision to cut 141 roles from its head office and customer care teams while creating around 100 new roles, which can have an effect on the company’s workforce and operations. This change in structure may influence the company’s performance and could potentially impact financial markets or other companies in the retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses a company restructure and job cuts, but it does not mention an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk