Clarks cuts 900 jobs and mulls funding options amid coronavirus crisis
Clarks is preparing to slash 900 corporate roles, the British shoe brand announced today as it confirmed it is in talks with advisers over funding options during the coronavirus crisis.
The retailer said it will reduce its global workforce by 900 roles, which will be partially offset by the creation of 200 new jobs.
The company announced 160 redundancies today, including 108 at its Somerset headquarters.
Around 700 workers are expected to leave the company over the next 18 months, Clarks said today.
Clarks also said it was “reviewing funding options with selected advisers” to address the short-term liquidity needs caused by the coronavirus crisis.
Today’s announcement comes after 170 jobs were cut last year as part of Clarks’ “made to last” turnaround strategy.
At the time the company said it would “review its stores in line with changing consumer needs”.
No store closures have been announced today. The company said it will focus on “expanding the use of digital and social channels to connect with consumers”.
Clarks chief executive Giorgio Presca said: “There are exciting opportunities ahead for our business, and we are having to make some difficult decisions to get there.
“We thank all affected staff for their contribution to our business and they leave their roles with our heartfelt respect and support.”