Pret A Manger Cuts 2,800 Jobs Due To Slump In Trade
British coffee and sandwich chain Pret a Manger has said that it is cutting 2,800 jobs as it completes restructuring of its UK business following a hit to customer demand by the coronavirus crisis.
Pret, which is owned by investment group JAB Holdings, said that trade across its UK shops remains 60% lower year-on-year even as sales and footfall are starting to show some signs of recovery.
"Although we're now starting to see a steady but slow recovery, the pandemic has taken away almost a decade of growth at Pret," Pret chief executive Pano Christou said.
Pret's decision to cut jobs is a reflection of shorter opening hours, lower transaction levels and the losses that it has incurred this year as the COVID-19 pandemic kept customers away.
July Closures And Number Of Employees Following Consultations
In July, the company closed 30 UK outlets as it experienced a much slower recovery in the UK compared to the other countries in which it trades.
Pret, which has 367 shops in the UK and a further 130 shops abroad, said that it will employ 6,000 team members in the UK after the conclusion of all its ongoing consultations.