Department store Selfridges has reportedly informed its employees of plans to cut 450 jobs.
This measure is a result of the financial hardship caused by the coronavirus pandemic and will mean a 14% reduction in the company’s workforce.
The department store has promised its employees that they will receive more information today (Wednesday 29 July).
It also said that staff who have been on furlough are not at more risk of losing their job than others.
Anne Pitcher, Selfridges Group managing director, wrote in a letter to the company’s employees: “The speed and magnitude of what is happening right now and the impact on trading means we must make some more fundamental changes to our organisation to stay ahead and realise a more sustainable future.”
She added: “Recovery will be slow, with sales this year forecast to be significantly less than they were in 2019. It will, without doubt, be the toughest year we have experienced in our history.
“As a family business, the hardest decisions are the ones that affect our people which is why it pains me to share news today of the toughest decision we have ever had to take that we will, very regrettably, need to make a 14% net reduction in our overall headcount, approximately 450 roles.”
Furthermore, Selfridges will offer employees the chance to take on a more flexible working situation. “For example,” Pitcher said, “permanently adjusting working hours to support your work and home life, taking sabbatical, a career break, or leaving the business with a voluntary redundancy package.”