Luxury department store Harrods and high street fashion brand Topshop are just two of the latest retailers to announce yet more job cuts today.
HARRODS plans to slash around 672 jobs and Topshop Owner Arcadia Group is set to axe around 500 jobs. The owners of both organisations blame the impact of the coronavirus lockdown on their businesses. The statement from the Arcadia Group, said: “Due to the impact of Covid-19 on our business including the closure for over three months of all our stores and head offices, we have today informed staff of the need to restructure our head offices.”
Harrods’ Chief Executive Michael Ward added that a “drastic improvement” is needed in external conditions for “Harrods to recover and grow again.” Earlier today, the owner of Upper Crust and Caffe Ritazza, SSP Group, also announced plans to axe around 5,000 jobs as a result of the coronavirus pandemic, as reported.