But the Belconnen branch of the iconic Australian department store chain has not been so lucky. It will be closed, along with one at Hornsby in Sydney and another in Adelaide.

the union representing Myer employees has also raised the spectre of jobs being cut or part-time hours slashed within stores that remain open, and have committed to visiting affected employees on individual sites.

Gerard Dwyer, the Shop, Distributive and Allied Employees’ Association (SDA) general secretary, said Myer’s decision to slash its staff and cut remaining part-time workers’ hours by up to 20% will have a devastating impact on workers and their families.

“There are many hundreds of Myer employees who have dedicated their lives to working with the retailer, and this is going to come as a huge blow to them and their families,” Mr Dwyer said.

“Myer is an iconic Australian retailer and for many decades it has been an employer of choice for those working in the retail industry.

“The SDA will have representatives in as many affected stores around the country as possible over the coming days and will be working very closely with workers and Myer to ensure the impact on them and their families is minimised as much as possible.”

A union spokesman was yesterday unable to provide more specific information on any staffing changes at Wagga store.

The closure of the Westfield Belconnen store will leave the ACT with just one Myer outlet, which is located in the Canberra Centre.

The Tuggeranong outlet was closed five years ago and plans to open in Woden were abandoned.

However, the department chain’s troubles may not be relieved by the latest cost-cutting as bosses expect a difficult year after profits fell by 80 per cent to just $11.9 million.