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.
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.
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