// Redundancies loom at luxury London department store Liberty
// The job cuts, in the form of a voluntary redundancy package, affect shop floor and head office staff
// Liberty reportedly wants to avoid compulsory redundancies
Liberty has reportedly kicked off a voluntary redundancy programme as it grapples with decline in footfall as its famous London flagship.
According to Drapers, the luxury London department store is offering the voluntary scheme with an enhanced package to give shop floor and head office staff “choice and control”.
Liberty has not confirmed a reduced head count target.
READ MORE: Bluegem offloads stake in Liberty London for £300m
The retailer is reportedly pursuing this option to avoid the need for compulsory redundancies, while also mulling other potential solutions such as reduced operating hours.
Like other luxury retailers in central London, a significant chunk of Liberty’s revenues derives from tourist spend and footfall – which has effectively dried up given the global travel restrictions still in place due to the pandemic.
Much of central London is also still reeling from the three-month lockdown, and footfall levels are still no where near high as they were before the pandemic.
According to Drapers, Liberty is hoping to see if footfall would improve, especially in September when another round of relaxations around coronavirus restrictions are expected.
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