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Harvey Nichols’s Staff May Face Lay Offs In A Move To Increase Profits

Photo credit: lentamart / Shutterstock

Harvey Nichols is considering laying off some of its support team members as part of its efforts to become more profitable.

Approximately 60 staff members, which is less than 5% of the luxury retailer’s workforce, are expected to be affected by the layoffs.

Reported by Drapers, the reductions are described as part of a restructuring to prepare the business for future growth, simplify its operations, and improve efficiency.

A process of collective consultation will be initiated soon, followed by individual discussions. Those impacted will have the chance to be relocated to other roles within the company if possible.

Pearson Poon, vice chairman of Harvey Nichols, stated: “We are taking steps to streamline and reinforce our business by optimizing our cost structure to operate more effectively within our support team.”

Poon acknowledged the challenges faced by the retail sector in the UK following the impact of Covid, including rising inflation, cost pressures, and the end of tax-free shopping.

“We are making tough choices now to ensure that we are well-prepared for success in an ever-changing retail landscape,” he added.

Poon, the son of Sir Dickson Poon who owns Harvey Nichols, has been in charge of the department store since last year, taking over from Manju Malhotra, who stepped down after 25 years with the company.

Photo credit: lentamart / Shutterstock

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