The books and gifting retailer is set to make redundancies at its London Piccadilly head office, despite strong performance in online sales after lockdown.

In a statement on Wednesday, it said that the company needed to cut costs after months of shops being unable to open.

It said: ‘It is with great regret that Waterstones is to make a number of head office redundancies and is currently in consultation with those whose Piccadilly-based roles are affected.

‘These are part of a number of measures undertaken to align the overheads of the business to the level of sales now being achieved. Waterstones has reopened all of its shops, excepting a small number where the circumstances make this impractical.

‘As for almost all high street retailers, sales are lower than before the pandemic, notably in our city-centre shops. Notwithstanding the strong online performance of, it is necessary to reduce the cost base of the business to reflect the new reality of our overall trading.’

Delhi Fair 2024

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