More than 100 positions will be eliminated at Frasers Group’s Manchester headquarters as the company attempts to streamline operations. The retail behemoth has begun consulting with employees from Missguided, I Saw It First, and Studio Retail, according to Drapers.
The action, which is said to be part of a company-wide efficiency effort as the firm continues its acquisition binge and most recently increased its investment in Boohoo and Currys, is understood to be part of the business’s purchase spree.
Around 200 positions at the group’s Shirebrook and London headquarters have been eliminated as a result of the streamlining plan, and 90 positions have also been eliminated as a result of the start-of-the-year acquisition of 14 businesses from JD Sports.
Commenting on last month’s head office cuts, Frasers Group said it had been through “significant change over the last year, having made a number of strategic acquisitions”.
“We are reviewing our team structures to identify efficiencies and streamline processes, and we have entered a consultation period with colleagues affected by these changes,” it continued.
Michael Murray, the company’s chief executive, issued a warning last week about more cuts to House of Fraser, whose store portfolio has more than halved since being acquired by Mike Ashley’s retail company in 2018.
The portfolio of the retailer was described as being “constantly reviewed,” and he added that some of the stores were still “too big, and we have to find solutions for the excess space.”
