According to reports, retail giant Frasers Group is set to reduce its workforce by up to 200 positions at its head offices located in Shirebrook and London, UK. The move comes as the company aims to enhance operational efficiency and streamline its operations.
In light of this development, it is understood that Frasers Group has entered a consultation period during which 20% of its head office staff will be at risk of redundancy.
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The decision to downsize is part of a broader strategy to drive efficiencies following the company’s recent acquisition spree. Frasers Group made headlines earlier this year when it acquired five fashion brands from JD Sports. These brands included Tessuti, Scotts, Choice, Giulio and Cricket.
A Frasers Group spokesperson said: “Frasers Group has gone through significant change over the last year, having made a number of strategic acquisitions and accelerated progress against the Elevation Strategy.
“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. The changes will ensure we have the right structure and talent to support continuing profitable growth for Frasers Group.”
As the company undergoes this transitional phase, stakeholders and industry observers will be closely monitoring the outcome and subsequent impact on Frasers Group’s operations and future prospects.
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