Outsourcing Plan Underway After Acquisition by Reebok Owner Authentic Brands Group

  • Ted Baker cuts around 200 jobs due to restructuring
  • Outsourcing plan after acquisition by Reebok owner Authentic Brands Group (ABG)
  • Affected positions across sourcing, finance, production, and footwear departments

Ted Baker has reportedly cut around 200 jobs at its head office as part of a new outsourcing model, following its acquisition by Reebok owner Authentic Brands Group (ABG) last October. The affected positions were made redundant across departments including sourcing, finance, production, and footwear. ABG has outsourced Ted Baker stores and its ecommerce site to retail management business AARC, which will operate the business in 11 countries across Europe, Middle East, and Africa. Additionally, ABG signed an agreement with PDS for leading Ted Baker’s sourcing and manufacturing and a licensing agreement with Aldo for footwear, handbags, and small leather goods. CEO Rachel Osbourne, CFO Marc Dench, and commercial and business development director Helen Costello have left the company.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about job cuts at Ted Baker following its acquisition by Authentic Brands Group and subsequent outsourcing of various operations. It includes relevant details about the affected departments and the percentage of employees impacted, as well as statements from ABG. However, it lacks some specific numbers or figures on the exact number of jobs cut.
Noise Level: 3
Noise Justification: The article provides relevant information about job cuts at Ted Baker after its acquisition by Authentic Brands Group and subsequent restructuring, but lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Ted Baker, Authentic Brands Group, Reebok owner, ABG
Financial Rating Justification: The article discusses job cuts and outsourcing at Ted Baker following its acquisition by Authentic Brands Group, which impacts the companies’ financial operations and management structure.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article

Reported publicly: www.retailsector.co.uk