October 1, 2022

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UK’s Made.com to chop jobs and launch strategic evaluation

(Reuters) -British on-line furnishings retailer Made.com mentioned on Friday it might reduce jobs, conduct a...

(Reuters) -British on-line furnishings retailer Made.com mentioned on Friday it might reduce jobs, conduct a strategic evaluation, together with a proper sale course of, and withdraw its full yr forecast because of “difficult” market circumstances.

Made.com would in the reduction of prices by shedding employees throughout the subsequent few weeks, it mentioned in an announcement. It didn’t instantly disclose the variety of staff that will be laid off.

The corporate, which made its London market debut in June final yr, mentioned it has needed to promote items on low cost to slash inventories, which damage margins and money place.

(Reporting by Amna Karimi in Bengaluru; Modifying by Dhanya Ann Thoppil)

 

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