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Boohoo Group is set to make a series of job cuts across its London office, and is reportedly consulting on more than 100 redundancies.
According to the Times, the majority of roles under threat are in its e-commerce, buying and design departments.
A consultation reportedly launched last week, though a decision on the final number of job losses has not yet been made, the Times said.
The news comes as the group is planning to move teams from its acquired brands, such as Burton, Coast, Dorothy Perkins, Karen Millen, Oasis and Wallis, under one Debenhams.com umbrella.
Boohoo told the Times the job cuts were in line with its plan to improve its operational performance, which was set out in its half-year trading update on 28 September.
At the time, Boohoo warned that sales were likely to be hit over the remainder of the financial year due to increases in inflation-driven costs and lower sales than previously anticipated.
The online retailer’s pre-tax profits dropped 90% in H1 from £63.8m to £6.2m, while revenues also dropped 10% year-on-year from £975.9m to £882.4m.
UK revenues declined 4% which Boohoo said softened through the second quarter as inflationary pressures increased and consumer demand was impacted by cost of living pressures.
A spokesperson for boohoo group said: “As a British retailer, we are proud to have secured the future of some of our industry’s most recognised brands, strategically accelerating our ambition to be a leader, not just in fashion eCommerce, but in new categories including beauty, sport and homeware.
“To ensure long term, sustainable growth of our brands we have taken the difficult but necessary decision to consider a proposal to reduce the number of roles in specific areas of the business. Our people teams will be supporting those potentially affected. We are committed to our portfolio and believe that all of our brands have a significant role in the ongoing success of the group and are maximising their individual potential for growth.”
