20.2 C
London
Friday, September 18, 2020

Selfridges to cut 450 jobs as sales hammered by pandemic

Must read

Harvey Weinstein stripped of his CBE

Harvey Weinstein has been stripped of his CBE. The former movie mogul, 68, was granted an honorary CBE, for his contribution to the British film...

UK’s R value remains above 1 as Sage warns infections may be doubling every week

The reproduction number, or R value, of coronavirus transmission across the UK remains above 1. Data released on Friday by the Government Office for Science...

India’s coronavirus cases surge by another 96,000 infections

India’s coronavirus cases have jumped by another 96,424 infections in the past 24 hours, showing little signs of slowing down. The health ministry raised the...

Scots physicists lead £10m project taking quantum technology ‘to another level’

A team of physicists based in Scotland are to lead a £10 million project to take the development of faster, thumbnail-sized quantum technology “to...

Retail giant Selfridges has told staff it plans to cut 450 jobs as it warned annual sales are expected to be “significantly less” than last year due to the pandemic.

The upmarket retailer said it will reduce its total headcount by 14% to cope with the impact of the virus and subsequent lockdown.

In a message to staff, group managing director Anne Pitcher warned the recovery will be “slow”, stressing 2020 will be “the toughest year we have experienced in our recent history”.

The boss said high streets were changing even before Covid-19 and the business has now been forced to make “fundamental changes”.

Shoppers observe social distancing as they queue outside Selfridges in Oxford Street, London

She said: “As you would expect at such a critical time, we have been carefully examining every aspect of our business – our structures, our costs, our ways of working – from top to bottom, leaving no stone unturned to ensure we are fit for purpose and the future.

“This has involved reviewing all non-essential expenses as well as pausing projects and initiatives where prudent to do so.

“The task ahead is significant and, as we look to reinvent retail and prepare to build back, we will need to go further.”

- Advertisement -

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article

Harvey Weinstein stripped of his CBE

Harvey Weinstein has been stripped of his CBE. The former movie mogul, 68, was granted an honorary CBE, for his contribution to the British film...

UK’s R value remains above 1 as Sage warns infections may be doubling every week

The reproduction number, or R value, of coronavirus transmission across the UK remains above 1. Data released on Friday by the Government Office for Science...

India’s coronavirus cases surge by another 96,000 infections

India’s coronavirus cases have jumped by another 96,424 infections in the past 24 hours, showing little signs of slowing down. The health ministry raised the...

Scots physicists lead £10m project taking quantum technology ‘to another level’

A team of physicists based in Scotland are to lead a £10 million project to take the development of faster, thumbnail-sized quantum technology “to...

Shoebox-sized Covid-19 test kit could make ‘huge difference’ in winter fight

A portable Covid-19 test which aims to diagnose the disease in 90 minutes could make a “huge difference” in hospitals ahead of the winter...
%d bloggers like this: