// LK Bennett has told head office employees it will reduce salaries by 10%
// The reduction is to avoid any redundancies, the retailer said
// Employees with pay packets over £37,500 are affected
LK Bennett has reportedly told its head office employees with pay packets over £37,500 that it will be slashing their salaries by 10 per cent in an effort to prevent redundancies.
The head office pay restructure came as a result of the coronavirus pandemic.
Those impacted have been consulted, and the reduction will be effective from July 1, Drapers reported.
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A review of the changes is expected to take place in six months.
Last month, LK Bennett removed 10 senior managers from the head office team structure as part of its campaign to cut costs.
The 10 roles included the senior managers in teams across finance, IT, HR, and design, each with salaries of between £60,000 and £100,000.
Meanwhile, the retailer is still considering selling its London-based head office.
The lease is due to be renewed in October.
LK Bennett plans to reopen seven stores on June 15 when the coronavirus lockdown measures are eased.
The other ten stores in its portfolio will remain closed until further notice.
LK Bennett chief executive Darren Topp said the company is waiting to see how customers react once stores reopen on Monday.
There are no current plans for any permanent closures.
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