Farfetch to cut 30% of workforce

London-based luxury etailer Farfetch has announced plans to cut around 30 per cent of its workforce.

Staff were made aware of the 2,000 job cuts in a company-wide email on Thursday which was first reported on by Drapers.

The note said: "We have decided to streamline the business to allow us to operate from a position of financial strength… While it’s never easy to go through this process, this was a necessary decision to secure the future of our business.”

The cuts will largely impact product design and the Farfetch Platform Solutions business which sells commerce solutions and retail technology to brands and retailers.

The report notes that redundancy consultations have already begun in Portugal, while impacted staff in other markets including the UK will be informed this week.

Farfetch was sold to Korean retail giant Coupang in late January, with the company already announcing a significant upheaval to its leadership.

The company last week announced that founder and chief executive officer José Neves would step away from the business, while chief financial officer Tim Stone, chief product officer Hélder Dias, chief platform officer Kelly Kowal, chief marketplace officer Edward Sabbagh, Americas president Sindhura Sarikonda, chief operations officer Luís Teixeira, chief marketing officer Nick Tran and Browns chief exec Elizabeth Von Der Goltz are all departing.

Share Story:

Recent Stories

The Very Group
The Very Group transformed range and assortment planning using Board.

Watch the full video

Smarter merchandise planning across the retail value chain
In this webinar, Matt Hopkins, Head of Retail Solutions, Board, Catherine Tooke, SVP Product & Planning, Sweaty Betty, and Subir Gupta, Managing Principal, Thought Provoking Consulting join Retail Systems Editor Jonathan Easton to discuss the findings of the recent Retail Systems report The Merchandise Planning Challenge: How are retailers harnessing technology to optimise planning and retain customers? and examine the innovations that are improving retail planning.