Kingfisher takes axe to Comet bosses

KINGFISHER has sacked 15% of the store managers at Comet, in an attempt to shake up the electricals chain and improve its profitability. Nearly 40 managers have been told they do not make the grade, and have been asked to leave with a redundancy package.

Kingfisher chief executive Sir Geoffrey Mulcahy wants to improve the performance at Comet, which has been losing share to Dixons' Currys chain over the past few years. 'Some store managers did not meet the requirements of our review,' said a Comet spokesman. The electricals chain plans to fill the vacancies with existing staff.

The sackings have angered some Comet employees who say they are being made scapegoats for the failings of executives.

Comet makes just £44m of profit for Kingfisher, despite having more than £1.2bn of sales. 'Kingfisher are trying to cut costs at Comet, because they know it should be making a lot more money,' said one analyst. 'It is good that they are taking action, but I'm not sure if sacking loads of managers will work.'