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Harvey Nichols Announces Job Cuts In Head Office Restructure

By Nithya Bose in Business News, posted March 20, 2024

Harvey Nichols will cut numerous head office positions in a major operational shake-up.

The department store chain's decision put less than five percent of its workforce at risk.

This is around 60 employees based in London.

The company has initiated a consultation process to discuss the implications of these changes with the affected staff.

Owned by Hong Kong's Sir Dickson Poon, Harvey Nichols is exploring possibilities to reassign affected employees within different areas of the business.

Recently, rivals like Selfridges and John Lewis let go of staff as they strive to lower their operational costs amid challenging economic conditions.

The harsh impact of recent inflation spikes, increased operational costs, and the discontinuation of tax-free shopping for tourists in the UK are factors for the overhaul.

Founded in 1831, Harvey Nichols has established a presence in key UK cities like London, Leeds, Edinburgh, Manchester, Birmingham, Bristol, and Dublin.

It also operates a beauty store in Liverpool and several international locations.

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Vice Chairman Pearson Poon said: “We are taking action to simplify and strengthen our business by optimising our cost structure to operate more efficiently across our support team.

“Coming out of Covid has been very difficult for the wider retail industry in the UK, which faced increased inflation, cost pressures, and the loss of tax-free shopping.

“We are making difficult decisions today to ensure we are well positioned for success in a continuously evolving retail environment.”

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