// Nearly 15,000 retail jobs have been lost since January, data from Centre of Retail Research reveals
// Some 11,689 of the jobs lost have been part of cost cutting measures from large retailers
UK retailers have cut nearly 15,000 retail jobs since January in a “brutal” start to the year.
Some 14,874 roles have been cut or made redundant since the start of 2023 as rising cost pressures take effect, according to data from the Centre of Retail Research.
Retailers including M&Co and Paperchase have all fallen into administration in recent weeks resulting in 3,185 jobs lost.
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Many job losses – totalling 11,689 – are from large retailers such as Tesco and Asda, who are running cost cutting programmes and restructuring options.
Last week, Wilko said it planned to cut over 400 jobs as it looked to control costs while New Look is currently consulting on 503 roles after it was forced to axe the night shift at one of its distribution centers.
Centre for Retail Research Professor Joshua Bamfield said: “The process of rationalisation will continue at pace as retailers continue to reduce their cost base.
“We are unlikely to see any respite in job losses in 2023 after a brutal start to the year.”
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