Home Business News Ted Baker to axe 160 jobs

Ted Baker to axe 160 jobs

by LLB Reporter
26th Feb 20 11:47 am

Ted Baker have announced they are to cut 160 jobs following a “very challenging year.”

Acting chief executive Rachel Osborne said, “2019 was a very challenging year for Ted Baker, but I am confident about the future growth prospects for the group.

“The strategic priorities we are announcing today will re-energise the Ted Baker brand and improve our customer proposition, ensuring the long-term success of the business.

“We recognise that, to support these priorities, we need to become more efficient, simplify our structure and reduce our cost base to more sustainable levels for the future.

“The changes we are announcing today are difficult because colleagues across the business have been working hard in what has been a challenging period for Ted Baker.”

Shares in the company fell 1.5% to 309.6p on Wednesday morning.

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