Fashion giant Ted Baker has cut 200 head office jobs including finance, production and footwear.
Drapers reported the company cut the jobs earlier this month after its buyout in October by Authentic Brands Group (ABG), a US-based brand owner, development, and entertainment company that also owns Reebok, Forever 21, and Juicy Couture.
The move comes after ABG’s decision to outsource Ted Baker’s stores and ecommerce site to retail management firm AARC in April.
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AARC will now manage the business in 11 countries across Europe, the Middle East, and Africa.
ABG also entered into an agreement with PDS to oversee Ted Baker’s sourcing and manufacturing.
At the time, it was stated that PDS would “become a core licensee and operating partner for Ted Baker.”
In the previous month, ABG signed a long-term licensing agreement with UK-based shoes and accessories brand Aldo to produce Ted Baker footwear, handbags, and small leather goods.
Rachel Osborne, the former CEO of Ted Baker, has departed the company, along with CFO Marc Dench, Chief People Officer Peter Collyer, and Commercial and Business Development Director Helen Costello.
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A representative for Authentic Brands Group confirmed the restructuring, stating: “Yes, there was a restructure.
“Less than 15 percent of Ted Baker [head office] employees were impacted through the process.
“The changes did not affect store or customer-facing employees.”
