It could be worse, nay: Clarks announces 170 redundancies

Potrebbe andare peggio, anzi no: Clarks annuncia 170 esuberi

It could be worse for Clarks, or rather not. The dark times of the British footwear brand continues. Before deciding how many and which shops to close, the historic British brand announced cutting 170 jobs. Of these, 80 will be at the headquarters in Street, Somerset.

Business transformation

“Clarks has introduced changes in its business in order to support the brand’s strategy under the leadership of the recently appointed CEO, Giorgio Presca”, as stated in a company note reported by the Daily Mirror. “Today we announced changes affecting the structure of our corporate teams around the world. Unfortunately, they will bring about 170 colleagues to leave the company. We are committed to working with all those involved to support them during this transition. These changes have no impact on our distribution operations centre and on the stores”.

It rains it pours

It could not be worse for Clarks, and there is a series of recent situations involving the brand  to prove it. The news of the cuts, in fact, comes after a negative year. 2018/2019 for Clarks, in fact, ended with a drop in sales by 4.6%, an operating profit down by 36%, and an after-tax loss of 82.9 million pounds. Then came the news that the company commissioned consulting company McKinsey&Co to conduct a complete review of the company business. All together with the announcement of the closure of a significant number of stores within five years.

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