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TED Baker is to axe 160 jobs after referring to 2019 as a “challenging a year” as the struggle on the high street continues.
The high end fashion brand says it expects to cut 102 staff already working for the company, as well as remove a further 58 positions which are currently vacant.
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These proposed cuts will primarily impact Ted Baker’s head office.
It comes after a strategic review of the company, and it’s hoped the move will save £5million in the current financial year.
Ted Baker’s acting chief executive officer, Rachel Osborne, said: “2019 was a very challenging year for Ted Baker, but I am confident about the future growth prospects for the group.
“The strategic priorities we are announcing today will re-energise the Ted Baker brand and improve our customer proposition, ensuring the long-term success of the business.
Your rights if you’re made redundant
IF you’re being made redundant, you may be eligible for the below, according to GOV.UK.
- Redundancy pay: If you’ve been working for your current employer for at least two years, you’re usually entitled to a statutory redundancy pay.
- A notice period: According to redundancy law, you’re entitled to a minimum notice period of 12 weeks’ if employed for 12 years or more, at least one week’s notice if you have been employed between one month and two years, or one week’s notice for each year if employed between two and 12 years. If your employer doesn’t want you to work your notice period they can offer you a lump sum instead.
- A consultation with your employer: Employers always have to consult with employees before dismissing them on the grounds of redundancy. In short, your employer must tell you what’s going on and give you a chance to ask questions and raise objections.
- The option to move into a different job: Your employer might offer you “suitable alternative employment” within your organisation or an associated company. Keep in mind that you may lose your right to statutory redundancy pay if you unreasonably turn it down.
- Time off to find a new job: If you’ve been continuously employed for two years, you could be given a reasonable amount of time off to look for another job or to arrange training to help you find another job.
“We recognise that to support these priorities we need to become more efficient, simplify our structure and reduce our cost base to more sustainable levels for the future.”
In a tribute to staff, Ms Osborne added: “The changes we are announcing today are difficult because colleagues across the business have been working hard in what has been a challenging period for Ted Baker.
“I would like to thank all of them for their commitment and the passion they have shown for the business.”
Ted Baker has had a turbulent time of late. In March 2019 its former boss, Ray Kelvin, resigned amid “forced hugging” harassment claims.
It came as he also reportedly “shoved a worker against a wall for not inviting him to his wedding”, and licked a fashion rival’s face and called him a “c***” minutes later in a meeting.
Ted Baker has 201 shops in the UK, and 323 across the UK and Europe. This is made up of 41 stores, 250 concessions, 22 outlets, and ten partner concessions or stores.
It also operates in Asia, Australasia, the Middle East, and the US.
Use its store finder tool to find your nearest.
Today’s news is also the latest blow for the high street. Only this week Tesco revealed it’s scrapping 1,800 jobs as it plans to cut back on in-store bakeries.
While this month, HSBC revealed it’s ditching 35,000 jobs globally over three years.
Big chains, such as Debenhams and Topshop, are also among the brands that have struggled as shoppers turn online.
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