New owners will look to reduce the brand's payroll by around £7.8m

Hilco to axe further 400 HMV jobs

400 HMV jobs are to be cut by new owner Hilco in an attempt to reduce the brand’s payroll.

The Times reports that Hilco is aiming to cut around £7.8m from the brand’s books as part of the cost saving measure.

An internal staff memo, which has since leaked, details that in-store security guards will be dropped from almost all HMV stores, other than those viewed as "high risk".

Meanwhile, cashier roles are also set to be reduced at HMV stores, excluding those ranked within the brand’s top 30 performing outlets.

The memo also suggests that the number of supervisor are set to be reduced, as managers to take over on cashier duty during busy periods, whilst part-time staff will account for close to 50 per cent of the retailer’s staff count.

Hilco acquired the HMV brand earlier this month, after taking on the struggling retailer’s debts at the beginning of the year.

The deal secures the place of 140 HMV stores on UK High Streets, which currently maintains a workforce of close to 2,500 staff.

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