Made.com staff are set to be hit with job cuts and the possible sale of the company, as it warns that losses will worsen.<\/p>\n\n\n\n
The company’s supply chain<\/strong><\/a> has been hit by soaring costs and the UK’s rampant inflation has hampered consumer confidence, the furniture company said.<\/p>\n\n\n\n It confirmed it would cut costs by laying off employees within the next few weeks.<\/p>\n\n\n\n Made stated that the review of employee numbers will take place “within the next few weeks,” but it is unknown how many employees will be affected by the cull.<\/p>\n\n\n\n READ MORE: AMAZON HALTS UK GROCERY STORE LAUNCH AFTER POOR SALES<\/strong><\/a><\/p>\n\n\n\n It comes after the Financial Times reported that the company could lay off up to 35 percent of its workforce.<\/p>\n\n\n\n The company has also hired PwC <\/strong><\/a>advisers to assist with a potential sale of the company, just a few months after issuing a profit warning and lowering its sales and earnings forecast for this year.<\/p>\n\n\n\n The company expects a core loss of \u00a350m to \u00a370m, up from a loss of \u00a315m to \u00a335m previously predicted.<\/p>\n\n\n\n Need Career Advice?<\/strong> Get employment skills advice at all levels of your career<\/strong><\/a><\/p>\n\n\n\n Chief executive<\/strong><\/a> Nicola Thompson said: \u201cMade is not alone in being hit by problems in the supply chain and the cost-of-living squeeze but we are taking actions to ensure our continued success, supported by our strong brand, an excellent product range and a large and loyal customer base in multiple markets.\u201d<\/p>\n\n\n\n Source<\/strong>: Retail Gazette<\/strong><\/a><\/p>\n\n\n\n Follow us on <\/strong>YouTube<\/strong><\/a>, <\/strong>Twitter<\/strong><\/a>, <\/strong>LinkedIn<\/strong><\/a>, and <\/strong>Facebook<\/strong><\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Made.com will conduct a strategic review of its options, including job cuts and the possible sale of the company, as it warns that losses will worsen.<\/p>\n","protected":false},"author":5,"featured_media":29278,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[414,415],"tags":[977,2424],"class_list":["post-29276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-business-news","category-uk-employment-news","tag-layoffs","tag-made-com"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/29276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/comments?post=29276"}],"version-history":[{"count":0,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/29276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media\/29278"}],"wp:attachment":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media?parent=29276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/categories?post=29276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/tags?post=29276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}