Schuh to cut jobs as part of a restructuring effort
Amid challenging economic conditions, the UK-based footwear retailer has started a voluntary redundancy process. The number of employees affected is not yet known
“At Schuh, our people have and always will be our most important asset. Due to ongoing challenging economic conditions and rising costs, we have made the difficult decision to restructure our business”, Colin Temple, President of Schuh, told the Scotsman, announcing that the company had begun a voluntary redundancy process in some areas of the business.
However, he did not disclose the number of employees affected by the process, or details of which departments are at risk. The news also comes amid wider economic pressures on the local economy, following, for example, recent job cuts at Mitsubishi Electric.
These struggles contrast with the strong performance of 2023, when Schuh, which is owned by Genesco, reported a 7.4% increase in UK sales. In the report, the company also revealed that it had recruited 400 people during the period, bringing its headcount to 4 369.
Image Credits: queensgate-shopping.co.uk
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