Home Business News Luxury retailer Harvey Nichols set to cut jobs

Luxury retailer Harvey Nichols set to cut jobs

by LLB staff reporter
19th Mar 24 1:31 pm

Harvey Nichols are planning to cut jobs and the chain store has said that less than 5% of workers roles are at risk.

Around 60 London employees are subject to redundancy and as a result a consultation process will be undertaken.

The luxury retailer is owned by Hong-Kong based Sir Dickson Poon and bosses have said that due to increased inflation and the axing of the tax-free shopping in the UK Harvey Nichols has come under pressure.

Pearson Poon, Harvey Nichols’ vice chairman, said, “We are taking action to simplify and strengthen our business by optimising our cost structure to operate more efficiently across our support team.

“Coming out of Covid has been very difficult for the wider retail industry in the UK, which faced increased inflation, cost pressures, and the loss of tax-free shopping.

“We are making difficult decisions today to ensure we are well positioned for success in a continuously evolving retail environment.”

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