Over 100 jobs on the line at Frasers Group
More than 100 head roles at Frasers Group’s Manchester head office are set to be axed as the group enters a company-wide efficiency drive.
The retail group has reportedly entered a consultation period with staff members from its subsidiaries Missguided, I Saw It First and Studio Retail, according to Drapers.
This comes as the group looks to downsize on its traditional department store model, instead focusing on smaller assets.
Frasers Group’s plans to cut the amount of staff members come despite it reporting improved profits for the last financial year.
The group has made a number of acquisitions in recent months, and has upped its stake in companies such as Currys and Boohoo.
Last month, Frasers Group cut 200 roles at its Shirebrook and London offices, and had previously axed 90 roles following the acquisition of 14 JD Sports businesses at the beginning of the year.
Frasers chief executive Michael Murray warned last week of more cuts to its House of Fraser business, which has seen over half of its store portfolio close since it was acquired by Mike Ashley’s retail group in 2018.