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Ted Baker head office job cuts loom as fashion giant carries out strategic review

By Nagasunder in UK Business News, posted January 13, 2023

Fashion giant Ted Baker is conducting a strategic review of its head office staff, which could lead to 30 job cuts.

Jobs in departments like sales and merchandising are under threat.

Authentic Brands Group (AGB), which owns Reebok, Forever 21, and Juicy Couture, paid £211 million for the fashion retailer in October.

Authentic Brands said at the time that it hoped to build Ted Baker's brand image alongside the current team.

The economic downturn and a reduction in customer spending have resulted in potential job losses at the company.

A company spokesperson told the publication: “Due to the current macroeconomic challenges in the UK, we’re having to make some difficult decisions at Ted Baker to reshape our business for the future. As part of this, we will be entering into a period of consultation with some of our UK team members, excluding those working in our retail stores.

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“We’re sad to have to take this action and will be supporting our team members throughout the process. We remain confident in our long-term prospects under new ownership and that we are well-positioned to continue providing our customers with a great product and great service.”

Source: Retail Gazette

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