ASOS HQ jobs ‘at risk from cutbacks’
Written by Hannah McGrath
Around 100 jobs are reported to be at risk at ASOS’s London headquarters as the e-commerce giant faces falling sales.
According to the Sunday Times, the online fashion retailer has launched a consultation on a round of redundancies which are thought to be focussed on the marketing department.
The company issued an unexpected profit warning before Christmas, sending shockwaves through the industry, which had assumed online retailers were immune from the pressures of low consumer confidence and heavy discounting plaguing the High Street.
In April the company announced that half year profits had slumped by 87 per cent due to expenses linked to US expansion costs, discounting and poor trading leading up to Christmas.
ASOS has also made moves to crackdown on ‘serial returners’ in recent months, with the company changing its returns policy to extend the returns period from 28 to 45 days, with full refunds only available for the first 28 days, and ASOS gift vouchers thereafter to discourage the ‘renting’ of items.
ASOS declined to comment on the reports.