By guest author Sahar Nazir from Retail Gazette
- N Brown warns redundancies are likely as it presses ahead with its “strategic transformation”
- 120 roles have been placed into consultation across HQ & other business operations
N Brown is reportedly consulting with around 120 members of staff over proposed job cuts as it pushes ahead with its “strategic transformation”.
The fashion group, which owns retailers Jacamo and SimplyBe, said the 120 roles have been placed into consultation across the head office and other business operations, Drapers reported.
The redundancies are expected to affect five percent of N Brown’s colleagues.
N Brown is currently undergoing a strategic review in a bid to shift more towards digital.
The company said it is taking “difficult but necessary measures” to support a sustainable growth in retail profitability.
Last month, chief executive Steve Johnson said the review “highlighted the need to have a tighter brand portfolio, a sharper focus on product and a cost base appropriate for delivering sustainable digital growth”.
The news comes after N Brown recently issued a profit warning after enduring tough trading in the market which saw its revenue decline.
During the 18 weeks to January 4, product revenue dropped by four per cent for the group after it was impacted by a 4.6 per cent decline in its financial services arm.
N Brown currently has around 2400 employees in total.