World Footwear

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Clarks to cut 103 jobs

Nov 23, 2023 United Kingdom
Clarks to cut 103 jobs
The difficult economic conditions and the cost-of-living crisis, which are having a negative impact on the British footwear retailer’s results, are believed to be the cause of these cuts
The news was reported by Fashion United. According to a company’s spokesperson, 103 positions in the global team will be cut to reduce costs and ensure long-term development. The employees affected have already been informed of the job cuts, with Clarks justifying these redundancies with the difficult economic conditions and the negative impact of the cost-of-living crisis on the company’s results.

C&J Clark International, which is responsible for Clarks’ activities in the UK, part of the wholesale business in Europe and the wholesale business in Asia, posted a turnover decline of 2% to 502.8 million British pounds (577.0 million euros) in the twelve months that ended in 2022, as compared to the prior year. The post-tax also decreased to 22.6 million British pounds (25.9 million euros) from 31.5 million British pounds (36.1 million euros) in the same period of 2021.

Last year's negative performance has also been attributed to the cost-of-living crisis and high inflation, which have had a negative impact on demand. These challenges are expected to continue throughout 2024.


1 British pound = 1.15 euros

Image Credits: stiffandtrevillion.com


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