Currys boss Alex Baldock has warned against the “potential unintended consequences” the government faces as it looks to update the UK’s employment laws.
The chief executive said the proposed reform, which will scrap zero-hour contracts and remove probationary periods to strengthen workers rights from day one, risked “damaging the flexibility that’s so important to colleagues”.
“The risk is that, far from boosting growth, these employment measures make it harder, riskier and more expensive to employ colleagues,” Baldock explained.
“We really need to make sure that these well-intentioned employment law changes have their desired effect, rather than holding back good businesses from what we want to do, which is to employ more and to grow faster,” he added.
The electricals giant has invested in providing flexible working opportunities across its organisation in recent years – with measures including the introduction of flexible shift patterns for store staff and the closure of its Acton-based HQ in favour of a flexible WeWork space in London Waterloo.
His comments come as the electricals giant raised its profit guidance following “strong peak trading” over the crucial Christmas trading period.
Currys now expects its full year adjusted pre-tax profit to come in ahead of consensus expectations at around 145m to 155m, up 23% to 31% year-on-year.
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