- Huw Hughes |
River Island is reportedly planning to axe around 250 head office roles in a bid to cut costs and mitigate the financial impact of Covid-19 on the business.
CEO Will Kernan told employees in a letter, seen by Drapers, that Covid-19 is “the most significant challenge in a generation” and as a result, the business now has a requirement for 250 fewer workers.
“The pandemic will change our marketplace for years to come, so we have acted quickly to reassess our structure, affordability and strategy. As a business we need to be more flexible and, critically, we must remain financially viable despite the potential of significantly reduced sales in the short term,” Kernan wrote.
“I am sorry to have to share this news and I know that the next few days will be unsettling for everyone. This is a hard decision that I am saddened to make, but it is a necessary one to ensure a sustainable future for this business and our remaining teams as we reset our ambitions.”
It is the latest in a growing list of UK fashion companies including iconic department store Harrods and Topshop-owner Arcadia to announce job cuts in recent weeks as they struggle with the impact of months of store closures.
Photo credit: River Island