Boohoo could lay off 100 employees from its London office as it battles rising costs and a drop in demand.
According to The Times, staff in the online retailer’s Soho office who work in the buying, design, and ecommerce departments are currently taking part in a consultation over their futures.
Teams from the retailer’s most recent fashion acquisitions, which include Oasis, Karen Millen, Dorothy Perkins, Wallis, Coast, and Burton, will be transferred to Debenhams.com.
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The exact number of positions that will be eliminated is still up in the air.
The internet fashion giant has battled rising logistical costs and declining demand, it reported a 94 percent decline in full-year profits early last year.
In September, it stated that its first-half sales were down 10 percent.
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According to a statement to the publication, Boohoo made the employment cuts in order to better its operational performance.
It said: “Our people teams will be supporting those potentially affected by the job cuts.
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“We are committed to our portfolio and believe that all of our brands have a significant role in the ongoing success of the group and are maximising their individual potential for growth.”
Source: Retail Gazette
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