Punch Taverns removes 140 BRMs from redundancy talks
Punch Taverns today revealed it has taken 140 business relationship managers (BRMs) out of its ongoing consultation process.
The pubco is looking to cut the number of jobs across its leased and managed support teams by up to 100 from the current level of 950 roles.
Together with a further eight sales executives from the leased business who have also been removed from the process the BRM move means the number of staff whose jobs could be affected by a redundancy scheme has fallen to 802.
Punch announced last week it was looking to restructure its business, with the move being described a way to make the leased operation more efficient.
The group needs to save cash in order to help pay down its debt while offering its more troubled lessees a financial support package totally £1.6m a month.
Meanwhile a spokesman for the pubco scotched suggestions that part of the restructuring process would see the current number of regions in which it operators being reduced from the current eight to seven.
"There are no plans to change the current regional set-up," he said.
Punch's shares, which took a hammering last week, were unchanged today at 39p.