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London-based fashion retailer Asos is planning to axe 100 job roles, following a £32m pre-tax loss this year.
It is reported that the retailer, which is thought to have approximately 3,300 people on its payroll, will decide which roles to cut back on next week following the launch of a consultation into the matter.
The news of the group’s poor financial results and its decision to cut back also coincides with the decline in the apparel market, as consumer trends indicate shoppers will be ordering less clothes over the next 12 months.
Asos reportedly saw profit of £177m last year, as the brand’s new CEO José Antonio Ramos Calamonte believes Asos could “achieve so much more”.
A spokesperson for ASOS said: “Simplifying and reducing our cost profile is a core part of ASOS’ change agenda that was outlined at full-year results. As part of this, we have taken the tough but necessary step to outline proposals to reduce the number of roles across the business.
“We will work closely with those potentially affected to support them through the consultation process and will seek to redeploy colleagues wherever possible.”
