Currys, the UK equivalent of JB Hi-Fi, is set to cut approximately 80 head office jobs as the consumer electronics and appliance market faces ongoing challenges in the UK and Europe.

\Rising costs of goods and new tax policies have contributed to a difficult economic environment for the retailer.

The company has initiated a consultation period with affected employees across all head office departments, according to reports from Retail Gazette.

The redundancies align with Currys’ strategy to reduce its central cost base by 10% this year, as it grapples with a A$62 million dollar tax bill and an increase in wages due to new minimum wage regulations.

Currys, which employs around 15,000 staff across the UK, has confirmed that its cost-cutting measures will not affect retail staff on the floor.

Instead, the focus remains on streamlining head office operations to manage financial pressures while sustaining its market presence.