// Asos is to cut more than 100 jobs from across the business
// The retailer entered a 45-day consultation period with staff today
Asos is to axe more than 100 roles as the struggling fashion etailer strives to cut costs across the business.
The retailer entered a 45-day consultation period with impacted staff, with roles impacted across all departments, according to Retail Week.
Asos said it hoped to redeploy employees where possible.
The redundancies come weeks after Asos revealed it had swung into the red, making an operating loss of almost £10 million in its year to 31 August.
Asos’ new chief executive José Antonio Ramos Calamonte promised “decisive, short-term operational measures to simplify the business, alongside steps to unlock longer-term sustainable growth”.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
He flagged that Asos had become “excessively capital intensive, too complex and overstretched globally”.
The retailer is among a throng of ecommerce businesses that have been hit by supply chain disruption, rising costs and customers cutting back spending.
Asos has been one of the most-shorted stocks on the London Stock Exchange and its share price has plummeted almost 80% over the past year.
Click here to sign up to Retail Gazette‘s free daily email newsletter
