Swindon-based high street retailer WH Smith has confirmed 270 jobs are to be lost at its Swindon and London offices.

The company, which is based in Greenbridge, confirmed the losses in its interim results today.

The 270 jobs will go as part of an organisational review to save the company around £8.5 million.

The interim results for the six month period to February 29 of this year showed a 28 per cent fall in half-yearly pre-tax profits from about £91 million to £65 million.

The firm has also announced the sale of its Asia-Pacific operations.

Kate Swann, the Chief Executive of WH Smith, said the High Street retail business delivered an unacceptable performance in the first half of the year.

But she added: "I believe the business has strong assets on which to build.

"We have already taken action to strengthen the senior management team and address the operational shortcomings of the business."

Ms Swann also added that the firm must re-instate its authority on the High Street.

In a separate statement, the company has said that it is now considering the preliminary approach from Permira for a possible take-over.

Earlier this week the firm offered 375p a share, a deal which is worth £940 million.