WIMMERA stores across Horsham, Stawell and Ararat will be unaffected by mass changes across the Woolworths Limited brand.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Woolworths Limited is the parent company to Big W, Masters Home Improvement, ALH Group, Woolworths supermarkets and petrol and financial assets.
On Monday, Woolworths Limited announced the closure of 17 under-performing Australian stores.
This will include 500 job redundancies and 100 job transfers.
A further 20 store developments will be deferred, with proceedings either temporarily or permanently ceased.
Another 15 stores will be considered for closure when their lease it up.
A Woolworths spokesperson confirmed Horsham, Stawell and Ararat stores would be unaffected by the closures.
The spokesperson said the Wimmera stores would not experience redundancies or transfers. Woolworths Limited chief executive Brad Banducci said restructure would cost $959 million.
Woolworths Limited is expected to report $2.5 billion in earnings before interest and taxes for the 2016 financial year.
In 2015, the company reported $3.7 billion earnings before interest and tax.
Mr Banducci said the changes were part of a wider re-development of the company.
“We’re making good progress rebuilding our business,” he said.
“We’ve faced up to the reality of where we are, we’ve put the past behind us and we are seeing signs our strategy is working.”
Following the restructure announcements the Woolworths Limited share price increased by five per cent.
Big W is expected to report a loss of between $12 million and $17 million, and EziBuy, $13 million to $18 million.