42 jobs at risk as Moonpig as part of business reorganisation

Moonpig mulls stock market flotation
Options being explored reportedly include a public listing.
// Moonpig parent company Photobox Group to make 42 jobs redundant
// This equates to 5% of Photobox’s total workforce
// The job cuts are part of a wider overhaul of the business structure

Reports have emerged that Moonpig parent company Photobox is set to make 42 staff redundant as part of an overhaul of the business structure.

According to both The Telegraph and Retail Week, 17 head office roles are at risk due to this reorganisation, while a further 25 are at risk due to an unrelated decision to outsource Moonpig’s customer service team.

Photobox Group, which operates personal gifting retailers Moonpig, Greetz and the eponymous Photobox, currently employs 659 staff.

The firm said the restructuring will focus on “internal operations of the group around two autonomous businesses – Moonpig and Photobox” and will allow it to “simplify operations, fast track innovation and empower focus on customer priorities”.

Moonpig and Greetz will be led by chief executive Nickyl Raithatha, while the company’s photo personalisation brands – Photobox, Hofmann and posterXXl – will have chief executive Christian Woolfenden at the helm.

Photobox Group had only acquired Dutch retailer Greetz last November for an undisclosed sum.

The restructure comes as revenues for the company declined by £10 million to £315 million for the year to April 30 2018, while losses improved from £47 million to £35 million.

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