Frasers Group is undergoing significant digital team restructuring, placing jobs at risk.
- 45 roles are currently under redundancy consultation amid an impending location shift.
- The digital team may relocate from London to the Shirebrook office.
- Earlier, 100 roles were at risk with the Manchester office closure plans.
- The group’s profit and revenue statistics reflect strategic shifts.
Frasers Group has initiated a restructuring process within its digital team, which has resulted in 45 roles being placed under consultation for potential redundancy. This move is part of a broader strategy involving the relocation of the digital team from its current location in London to the company’s head office in Shirebrook. While initially 45 roles are affected, the final number of redundancies is anticipated to be fewer.
This decision follows a recent announcement where 100 positions were deemed at risk due to the planned closure of Frasers Group’s office in Trafford, Manchester. Such measures indicate a significant reorganisation within the company as it aligns its operational strategies with broader business goals.
Additionally, the financial landscape of Frasers Group has seen notable changes. The company reported a 13.1% increase in adjusted profit before tax, reaching £544.8 million for the year ending 28 April 2024. This increase is part of its ongoing ‘elevation strategy,’ which focuses on enhancing the retail experience and operational efficiencies. However, despite the profit rise, the group experienced a slight dip in overall revenue, which decreased by 0.9% year-on-year to £5.53 billion. This was partly due to a 1.3% decline in retail revenue and a more significant 11.2% drop in financial services revenue, although property revenue surged by 101.4%.
Efforts to manage these financial fluctuations have necessitated critical decisions regarding staffing and office locations. Frasers Group’s current restructuring and relocation initiatives signal an adaptive approach to maintaining its competitive position in the market while striving for sustained growth.
Frasers Group is strategically realigning its operations to bolster profit and navigate financial changes.
