Ted Baker restructuring sees 200 head office workers let go
A restructuring process at Ted Baker has seen the retailer let go of around 200 members of its head office staff.
A switch towards an outsourcing model has seen staff members in Ted Baker’s sourcing, finance, production, and footwear departments lose their jobs, according to Drapers.
The retailer was acquired for £211m by Juicy Couture owner Authentic Brands Group in autumn of last year. At the time of the deal, the American retail group said it would be well positioned to accelerate Ted Baker’s growth, especially in North America.
Following the acquisition, former Ted Baker chief executive Rachel Osborne left the company after six months, as well as chief financial officer Marc Dench, chief people officer Peter Collyer, and commercial and business development director Helen Costello.
Earlier this year, Ted Baker opted to outsource its stores and ecommerce site to retail management firm AARC, and appointed PDS to lead its sourcing and manufacturing processes.
Drapers said that less than 15% of Ted Baker’s head office employees were impacted, and that neither store nor customer facing employees were affected.