Lookers may now cut 14.5% of its workforce

02 January 2024

Lookers has warned it may cut around 945 jobs, or 14.5% of its total workforce, as part of an ongoing strategic review following its sale to Global Auto Holdings.

In a previous statement in early December, Lookers announced 200 redundancies, which it said were “linked to the central support function of running a PLC… that number is around 3% of the 6,500 staff at lookers”.

The two companies have now “identified areas that require restructuring and which will require a redundancy programme to be undertaken,” it said in a statement.

Mark Raban stepped down as CEO at the end of the year, and Oliver Laird also stepped down as CFO. Last week, fellow retailers reached out to Lookers employees impacted by the redundancies.

http://tinyurl.com/3zskun2j

Tags: Global Auto Holdings, Lookers, Mark Raban, Oliver Laird

Why Subscribe?

As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:

Get informed and boost your business potential
More than 1,200 fellow executives have joined us since launch
Independent, carefully crafted, unique content relevant to you and your business
Develop a greater awareness of market trends and opportunities
Access to a wide range of materials whenever, wherever and however you want it
Significant discounts on ARN events, reports and other publications

Subscribe now

Latest ARN Blog Post

Testimonials

I’ve found today really exciting. I’ve attended a number of conferences this year and I’ve been surprised by how well attended this was by some of the great players in the industry and by the quality of the speakers. I’d say it was definitely the best event I’ve attended this year.

Chris Penny, Chief of Staff, Vertu Motors plc

I found it very insightful. I’ve taken copious notes and there are lots of things we can take away and do.

Tracy Perryman, Managing Director, Denbury Diesels

I’ve been an Auto Retail Network subscriber since it was first launched. I find Auto Retail Bulletin particularly useful since it gives real, in-depth analysis into the issues facing this industry.

Ken Savage, commercial director, Perrys Group

This is the 3rd time I’ve attended the event & I thought today’s was the best one yet, the content was superb. It really gave us an insight into how we’ve got to take our business forward.

Ian Godbold, ICG Digital

I use Auto Retail Bulletin to keep fully up to speed with what is going on. The analysis is first class and I read it from cover to cover. It really helps my understanding of our industry and is not to be missed.

Robert Forrester, CEO Vertu PLC