Dozens of jobs are facing the chop at Missguided as it launches a redundancy scheme to make the business more efficient.
According to the Daily Mail, the clicks-to-bricks fashion retailer has placed around 100 of its 800 jobs under review, with around 50 expected to be cut.
The roles in question are understood to be in Missguided’s head office in Manchester, as well as in London and Leicester.
This follows reports in late December that Missguided fell into the red, seeing operating profits drop from £381,000 in 2016 to a £1.45 million loss despite online sales growing 40 per cent in the same period.
“The tough market has led to sales growth that’s lower than we need it to be and our investments in margin and other costs means that missing our annual profit target is inevitable,” Missguided chief executive Nitin Passi said in a letter to staff.
“The business has doubled its number of employees in two years and as a result some teams are less lean then they need to be.
“This is a horrible process but it is something that we have to face into.
“We have to put investment into the right areas. The business has been massively focused on growth but we do need to make sure we have sustainable growth.”
