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Comet reveals redundancy plans

Monday February 13th 2012

In a bid to secure its future, electrical goods supplier Comet has revealed plans to reduce its workforce by 450.

The firm's in-house repairs operation looks set to be downsized as part of the organisation's plans. It was recently sold to private equity firm OpCapita for £2.

Comet is the latest in a long line of retailers who have faced financial difficulties as a result of the economic downturn.

A number of engineers could lose their jobs because of the latest plans, which are due to be consulted on, while a third of Comet's 414-strong workforce at its call and administration centre in Clevedon could go.

Comet chief executive Bob Darke stated: "The proposal to reduce our staff numbers has been a very tough decision to make but significant savings are required to secure the long-term viability of our business."

Comet revenues fell by 14.5% on a like-for-like basis between the beginning of November 2011 and January 8.

Copyright Press Association 2012

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