Fashion

Selfridges to cut 450 jobs as it faces ‘toughest year in recent history’


Selfridges to cut 450 jobs as it faces ‘toughest year in recent history’

Selfridges has become the latest British fashion company to announce job
cuts as the fallout of Covid-19 continues to wreak havoc on the high
street.

Managing director Anne Pitcher told staff in a letter Tuesday that the
company would be cutting its workforce by 14 percent – or around 450 roles.
“As a creative business at the forefront of retail we have a proud
history of leading the way, however, the speed and magnitude of what is
happening right now and the impact on trading, means we must make sure some
fundamental changes to our organisation to stay ahead and realise a more
sustainable future,” Pitcher said.

Selfridges prepares for tough year ahead

Pitcher also warned that the company’s recovery would be “slow” and that
sales this year are expected to be “significantly” less than they were in
2019. “It will, without doubt, be the toughest year we have experience in
our recent history,” she said.

A growing list of British fashion companies have announced job cuts and
store closures in recent weeks as they struggle to mitigate the financial
impact of Covid-19. It emerged this month that fellow luxury department
store chains Harrods and Harvey Nichols would both be downsizing their
workforces.

Other big-name British companies to announce job cuts, or consider them,
include Burberry, Ted Baker, Stella McCartney, John Lewis, Marks & Spencer,
River Island, Arcadia and White Stuff.

Photo credit: Selfridges



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