Cost-cutting at Frasers Group means around 200 HQ jobs at risk
Retail giant Frasers Group wants to cut up to 200 head office jobs, accounting for around 20% of its staff in London and Shirebrook, to reduce costs and streamline operations.
A group statement read: “Frasers Group has gone through significant change over the last year, having made a number of strategic acquisitions and accelerated progress against the elevation strategy.
“We are reviewing our team structures to identify efficiencies and streamline processes, and we have entered a consultation period with colleagues affected by these changes.
“The changes will ensure we have the right structure and talent to support continuing profitable growth for Frasers Group.”
It follows a recent acquisition spree which saw the group buy a raft of fashion brands from rival JD Sports and the purchase of a Luton mall earlier this year. Last week, the group was said to be in advanced talks to acquire the stock and intellectual property assets of THG-owned cycle specialist ProBikeKit.
Frasers Group is in the middle of a long-term "elevation strategy" aimed at raising its image to attract more high-profile brands to its stores, especially to its upscale Flannels operations that has been expanding into key city centre locations over the last 18 months and now numbers 50 stores across the UK.
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