British footwear manufacturer Clarks, which had some difficulties in business even before the coronavirus pandemic, is set to cut up to 18 jobs worldwide in the next 900 months, Worldfootwear.com writes.
“In order to meet the short-term liquidity needs caused by the Covid-19 crisis, Clarks management is also considering financing options,” the company said.
Clarks has decided to cut jobs after reviewing its strategy, and expects the cut in 900 jobs to be partially offset by the creation of 200 new positions. The company has already reduced 170 jobs last year.
With a retail chain of more than 1400 stores in 75 countries, Clarks has been able to temporarily close many retail outlets due to the Covid-19 pandemic. Currently, the company has launched a business restructuring process. Clarks CEO Giorgio Presca said that exciting opportunities could open up for Clarks in the future, but today, companies have to make difficult decisions to make this happen.
Clarks was founded in 1825 and employs approximately 13 people. The British footwear manufacturer suffered an after-tax loss of £ 000m in its last fiscal year, which ended in 2019. The reason was the drop in sales. As we wrote earlierClarks closed its only UK factory last year after failing to meet its production targets for its "desert" boots. The factory was opened in 2017.
Rating |