Asos to cut 38 jobs at Topshop

Asos is set to cut 38 jobs at the Topshop, Topman, and Miss Selfridge brands according to sources reported by Drapers.

The cuts will impact roles in senior buying, established buying, and design and merchandising.

The move comes after Asos acquired the brands from the now defunct Arcadia group for £265 million in February.

The acquisition saw 300 employees across design, buying, and retail partnerships at the Arcadia group brands transferred to Asos.

The consultation on the restructuring is set to begin in the next month according to Draper’s sources.

The news comes despite a slight rise in the number of retail jobs in the UK, which increased by 1,000 in the first quarter year-on-year according to the latest ONS job figures.

Asos has enjoyed strong performance in recent months; it saw pre-tax profits more than triple to £106 million in the latter half of its recent financial year.

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