One in five jobs at Superdry head office under threat
By James Young | 6th March 2019
Up to 200 jobs could go at the Cheltenham head office of Superdry as part of a cost-cutting programme.
The company have confirmed that a consultation process began on Monday affecting their "central head office functions."
The fashion brand currently employs around 1,000 staff in its Runnings Road head office and as many as one in five are believed to be under threat.
The brand revealed that performance has been "subdued" in a trading statement released in December and were looking to make £50million in gross cost savings.
Confirming that the consultation process had started a Superdry statement said: "As announced at our interim results in December, we have embarked on a cost transformation programme.
"As part of that, we have started a process of consultation with colleagues about how it will impact our central head office functions."
As reported on Punchline-Gloucester.com last week, Superdry is currently undergoing a power tussle at the top.
Founder Julian Dunkerton is reported to have called for an extraordinary meeting to return as a non-executive director.
Dunkerton and former business partner James Holder still own around 28 per cent of the company but have seen their holdings lose two thirds of their value in the last year.
Shares in Superdry were trading as high as 1,813p in March 2018 but are currently worth 559p.
Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.