Harvey Nichols is planning to cut dozens of jobs in its head office as part of a major shake-up of its operations. The historic department store chain said less than 5% of its workforce was at risk of redundancy as result.
It understood the plans will affect around 60 London-based employees, subject to a consultation process.
The group, which is owned by Hong-Kong based Sir Dickson Poon, said it would seek to offer impacted workers roles in other parts of the business.
The retailer, which was founded in 1831, has stores in London, Leeds, Edinburgh, Manchester, Birmingham, Bristol and Dublin. It also has a dedicated beauty store in Liverpool as well as international sites.
Bosses at the company said the overhaul comes after the retailer came under pressure from recent rampant inflation, cost increases and the end to tax-free shopping for tourists in the 海角视频.
Rivals, such as Selfridges and John Lewis, have also cut jobs over the past year amid efforts to reduce operating costs.
Pearson Poon, Harvey Nichols鈥 vice chairman, said: 鈥淲e are taking action to simplify and strengthen our business by optimising our cost structure to operate more efficiently across our support team. Coming out of Covid has been very difficult for the wider retail industry in the 海角视频, which faced increased inflation, cost pressures, and the loss of tax-free shopping.
鈥淲e are making difficult decisions today to ensure we are well positioned for success in a continuously evolving retail environment.鈥
On Tuesday (March 19), the luxury firm also confirmed it saw higher sales over the previous financial year and cut its losses.
Accounts for the year to April 1 2023, which are due to be published soon, are set to show revenues grew by 13% to 拢216.6m as it continues its recovery following the impact of the pandemic and cost-of-living pressures.
It also recorded a pre-tax loss of 拢21.3m for the year, down from 拢30.4m a year earlier.
Last year, the group鈥檚 boss Manju Malhotra stepped down from the company after reported tensions over its growth strategy.
