After the Christmas trading and the long sale period, ABG’s Ted Baker is looking at potential job cuts as the new strategic review includes redundancy consultation and the economic climate in the United Kingdom.
The store staff won’t be affected by the company’s decision. Although, around 30 jobs including marketing and merchandising are at risk.
“Due to the current macroeconomic challenges in the UK, we’re having to make some difficult decisions at Ted Baker to reshape our business for the future. As part of this, we will be entering into a period of consultation with some of our UK team members, excluding those working in our retail stores,” said Ted Baker, which is now acquired by Authentic Brands Group (ABG).
“We’re sad to have to take this action and will be supporting our team members throughout the process. We remain confident in our long-term prospects under the new ownership and that we are well-positioned to continue providing our customers with a great product and great service,” the brand further stated.
ABG is an American fashion group that owns other groups such as Juicy Couture and Reebok. It agreed to a £ 211 million deal to acquire Ted Baker in October.
