In a cost-cutting exercise, Home Retail group cuts 20% of its head office workforce and shuts down quarterly Homebase magazine.
Home Retail Group has announced 300 redundancies at its Milton Keynes head office.

The job cuts will affect both the Argos and Homebase brands and represents 20% of the 1,500-strong workforce at the office.

The group carried out two consultations with employees but insisted that it had been able to 'keep job losses at a minimum' due to a recruitment freeze earlier in the year and by 'redeploying' staff where possible.

After six years, quarterly customer magazine, Homebase Ideas is to close this month.

Following a review of the 'effectiveness' of the title, the Ideas magazine, which has a circulation of more than 400,000, will publish its last issue on March 16.

A spokesman for Homebase said: "Research has confirmed that there are other areas of the marketing mix that add more value to customers and which will deliver a better return on investment for the business."

The paid-for quarterly magazine is published by Redwood, who won the account last autumn in a competitive pitch against five other agencies. Redwood also publishes Homebase's Garden Living Club magazine.

Sold in store with a cover price of £1 and circulated to Homebase customers, the title's main competitors include Ideal Homes and House Beautiful.

In 2003, the recently-launched title was awarded Customer Magazine of the Year at the APA Customer Magazine Awards.