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Markets News

Wetherspoon to cut jobs after plunging to annual loss

Oct 16 (Reuters) - J D Wetherspoon said on Friday it has started a consultation process to reduce positions at its airport pubs and that it would cut 108 jobs at its head office after the pub operator plunged to an annual loss.

Wetherspoon, which employed around 43,000 people at the end of its last financial year, posted an annual loss before tax of 105.4 million pounds ($135.91 million) on a post-IFRS 16 basis for the 52 weeks ended July 26, including one-time items.

$1 = 0.7755 pounds Reporting by Aakash Jagadeesh Babu and Yadarisa Shabong in Bengaluru

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