Australian departmental store removed 30 positions from company’s executive and senior management team in a bid to reduce cost and strengthen earnings with strong consumer base.
The cut comes under the leadership of new CEO John King who took up the reins in June this year. He already indicated the intention to revamp the management structure to lift Myer’s game.
General Manager of marketing and customer, Ms. Louise Pearson was one of the many departing senior executives. The exit of highly regarded Ms. Pearson who has served Myer for 22 years was subsequently followed by the departure of several other senior roles.
As reported a layer of executive and management roles has been peeled off to get more close to their customers. In a statement, its been heard that recent cuts reflect Myer’s ongoing effort to place the customers first before coming up on any decision for the business.
Myer Holdings Limited’ s (ASX: MYR) stock has been trading at $0.445 on 31 August 2018 while the company has seen daily price change of -3.261%. There has been negative change of 37.41% in company’s performance over the last one year.
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