Ted Baker to reduce 102 head office roles

With a strategy focused on addressing underperformance and improving efficiencies across the wider group, Ted Baker plc has decided to simplify key head office and business functions by a reduction of 102 roles and the removal of a further 58 posts which are currently vacant to align with the new management structure. Earlier this month, the executive committee was restructured, with the number of members was reduced from 13 to 9.

"2019 was a very challenging year for Ted Baker, but I am confident about the future growth prospects for the group. The strategic priorities we are announcing today will re-energise the Ted Baker brand and improve our customer proposition, ensuring the long-term success of the business. The changes we are announcing today are difficult because colleagues across the business have been working hard in what has been a challenging period for Ted Baker," said the company’s Acting Chief Executive Officer, Rachel Osborne in a statement.

The company said, expected financial impact from this initiative will be to reduce costs by 5 million pounds in the current financial year, and by 7 million pounds on an annualised basis. The company added that reduction in office headcount is the first of a range of expected initiatives to improve the efficiency and cost structure of the group.

Picture:Ted Baker media centre