Weak sales lead to job losses and restructuring
- Frasers Group is cutting over 160 jobs at Studio Retail in East Lancashire
- The cuts are due to weak sales
- The total number of workers at the Accrington facility will be reduced from 258 to 94
- Studio Retail’s operations at the Widness warehouse will be integrated into the Accrington facility
- Nearly 100 customer service staff are also at risk of redundancy
- Frasers Group is restructuring its ecommerce business
- The Manchester office is being shut down, putting around 100 jobs at risk
- Affected staff members may have the opportunity to move to other offices within the group
Frasers Group, the retail giant, is making significant cuts at its Studio Retail staff in East Lancashire due to weak sales. Over 160 workers at the retailer’s base in Accrington are at risk of redundancy, including key positions such as the logistics director and operations manager. This will result in a reduction of the total number of workers at the Accrington facility from 258 to 94. Additionally, Studio Retail’s operations at the Widness warehouse will be integrated into the Accrington facility, affecting 13 people. The proposed measures are part of a wider restructuring of Frasers Group’s ecommerce business, which also puts nearly 100 customer service staff at risk of redundancy. Last week, it was announced that the Manchester office will be shut down, potentially impacting around 100 jobs across Studio Retail and I Saw It First. Affected staff members may have the opportunity to relocate to other offices within the group, depending on their role functions.
Factuality Level: 8
Factuality Justification: The article provides specific details about job cuts at Frasers Group’s Studio Retail staff in East Lancashire, including the number of workers affected, reasons for the cuts, and plans for restructuring. The information is presented in a straightforward manner without digressions or sensationalism. There are no obvious signs of bias or misleading information, and the overall reporting appears to be factually accurate.
Noise Level: 3
Noise Justification: The article provides specific information about job cuts at Frasers Group’s Studio Retail staff in East Lancashire, including the number of workers affected, reasons for the cuts, and plans for integration. It stays on topic and provides relevant details supported by sources like Drapers. However, the article could benefit from more analysis on the broader implications of these cuts and the potential consequences for the workers and the company’s future.
Financial Relevance: Yes
Financial Markets Impacted: Frasers Group, Studio Retail
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses job cuts and restructuring at Frasers Group’s Studio Retail, indicating financial implications for the company and potentially impacting its stock performance.
www.retailgazette.co.uk