New Look cuts more department heads
British clothing chain New Look has made further cuts to its management team by letting go of several department heads.
Troubled department stores persist with cuts
New Look is the latest department store group to announce job losses as the high street continues to struggle with increasing online competition and a decline in customer spending.
Five department heads made redundant
New Look has made five of its department heads redundant as part of a restructuring of the business. The roles came from New Look’s menswear, womenswear, concession, design and merchandising departments.
Cost-cutting and restructuring
The cuts come as New Look aims to save £35 million through cost-cutting and restructuring. The company embarked on a Company Voluntary Arrangement (CVA) last year which allowed it to close underperforming stores and reduce rents.
Digital transformation
New Look is also accelerating its digital transformation to improve its online offerings and keep up with changing customer habits. It plans to open several new digital-only studios and innovating its mobile app.
Challenging time for UK retail
It is proving to be a challenging time for UK retail with many well-known department store groups and high street names announcing job losses, store closures or restructuring in recent months. Debenhams, Burton, Dixons Carphone and DMG Media have all announced significant cuts.
