Selfridges plans to cut 450 jobs

Selfridges has revealed plans to cut 450 jobs as a result of annual sales expectations coming in “significantly less” than last year due to the Coronavirus.

The department store's total workforce is likely to be reduced by 14 per cent, with group managing director Anne Pitcher warning that 2020 will be “the toughest year we have experienced in our recent history”.

In a statement to staff, she explained: “As you would expect at such a critical time, we have been carefully examining every aspect of our business - our structures, our costs, our ways of working - from top to bottom, leaving no stone unturned to ensure we are fit for purpose and the future.

“As a family business, the hardest decisions are the ones that affect our people, which is why it pains me to share news today of the toughest decision we have ever had to take that we will, very regrettably, need to make a 14 per cent net reduction in our overall headcount, approximately 450 roles."

Pitcher was promoted in February, after Selfridges managing director Simon Forster left after just over a year in the role.

The company’s most recent results showed a six per cent rise in sales to £1.85 billion for the financial year ending February 2019, while operating profits dropped marginally from £175 million to £170 million.

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