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Clarks to cut 900 jobs as part of turnaround plans

Footwear retailer Clarks is to make 900 corporate jobs redundant as part of its strategy to “re-energise“ its business. The retailer announced 160 redundancies today, 108… View Article

FASHION

Clarks to cut 900 jobs as part of turnaround plans

Footwear retailer Clarks is to make 900 corporate jobs redundant as part of its strategy to “re-energise“ its business.

The retailer announced 160 redundancies today, 108 of which have been made at its head office in Somerset.  The rest will follow over the course of the next 18 months.

Clarks will be creating 200 new jobs as part of its turnaround plans. In addition, the retailer said it has been reviewing funding options with advisers as it looks to address short term liquidity needs caused by the covid-19 pandemic.

The retailer’s new strategy will focus on production innovaation and the expansion of its online business.

Clarks chief executive Giorgio Presca said: “There are exciting opportunities ahead for our business, and we are having to make some difficult decisions to get there.

“We thank all affected staff for their contribution to our business and they leave their roles with our heartfelt respect and support.”

In the year to February 2019, Clarks sold 20 million pairs of shoes but this was two million less than in the previous financial year.  The company also cut 170 jobs last year as it struggled against challenging trading conditions.

 

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