Ted Baker to cut a quarter of UK workforce

LONDON • Ted Baker plc is cutting more than a quarter of its staff in the UK in a bid to save money, the Sunday Times reported.

The fashion retailer told workers this month that at least 500 roles would be axed in an effort to save £6 million (RM32.16 million) by the end of the year. Around 200 jobs will be cut from its London headquarters, while the rest will go from its 46 shops and dozens of store concessions, the newspaper reported. Ted Baker employs about 2,000 staff in Britain.

The cuts come at a difficult time for the sector, after the UK’s lockdown forced shops to shut down in a bid to halt the spread of Covid-19. While shops are now reopening, many companies are cutting jobs in a bid to save profits.

Meanwhile, British Prime Minister (PM) Boris Johnson asked his Cabinet to return to the office this week and suggested he won’t impose another lockdown on the country, potentially setting his government up for further discord with its scientific advisors.

In an interview with The Sunday Telegraph, Johnson said he “certainly” does not want another blanket shutdown and nor does he think they would be in that position again. The PM said the country is getting better at spotting the disease and isolating it locally, and compared a second nationwide lockdown as a tool similar to a “nuclear deterrent” — a method of last resort. — Bloomberg