admin Selfridges is reportedly set to cut jobs at its headquarters and some of its stores in a cost-cutting drive.
In an email seen by This is Money, managing director Andrew Keith reportedly told employees that some teams would be “resized and reshaped” to ensure the company is “fit for the future, aligned, and working in the most efficient way”.
It isn’t clear how many jobs will be cut.
Keith reportedly said in the email: “’We’ve been reviewing how Head Office, including some small teams in retail who support our stores, are organised to best deliver for our customers.
“To do this involves looking at our structures, our costs, our revenue lines, and our ways of working, from top to bottom.
“Regrettably this is likely to mean some of our head office teams, including some small teams in retail who support our stores, will be resized and reshaped.”
The British department store chain was bought in 2022 by a consortium comprising Thailand’s Central Group and Austrian-based property company Signa Group in a deal reported to be worth 4 billion pounds.
However, its new owners have laden the retailer with more than 1.7 billion pounds of debt since taking it over, according to a report in March by The Telegraph.
A Selfridges spokesperson told the publication at the time: “Selfridges enjoyed the best Christmas ever in 2022, and we remain very confident about 2023 and beyond.
“Our operating environment is unique because customers come to Selfridges for the experience and the pleasure our stores, including digital, offer.”
FashionUnited has reached out to Selfridges for comment.
