Big W has actioned a mass exodus at its head office, axing 40 buyers and assistant buyers from its head office, according to the Sydney Morning Herald.
The move has reportedly been made as part of a restructure of the retailer's overseas sourcing.
The sacking of workers will also aim to reduce costs and increase earnings following Big W's dismal 39% decrease in earnings in the first half of the financial year to $67.3 million.
Despite job cuts, Big W CEO and former Oroton executive Sally Macdonald confirmed in a statement to Fairfax that Big W is now recruiting across all aspects of the business.
“Necessary team adjustments have been made across our business to ensure we are choosing and creating the best brands and products for our customers.”
“While buyer numbers have been reduced, we are in the process of recruiting more than 30 new designers across fashion, industrial, graphic and digital to form a centralised and rejuvenated design team.”
Macdonald has also established direct sourcing operations in Hong Kong in a bid to reformat Big W as a product and design led retailer.