Superdry to axe 200 jobs at Cheltenham head office

superdry to axe 200 jobs at cheltenham head office 1 - Superdry to axe 200 jobs at Cheltenham head office

Superdry has announced it is set to slash 200 jobs, mostly at its headquarters in Cheltenham in a bid to save £50 million by 2022.

The clothing retailer has seen a decline in trade and a massive drop in its share price over the past year, issuing two profits warnings.

It is now conducting a review of its store in the wake of cuts to save £50 million.

Its headquarters in Cheltenham is home to around 1,000 members of staff.

A spokesman said on Tuesday: “We have started a process of consultation with colleagues about how it will affect our central head office functions.”

Its shares have collapsed from 1715p this time last year to 550p as of today.

The clothing chain has a store in Bristol, Swindon, Bath and Cheltenham.

A spokesman confirmed a review is underway to determine the viability and performance of its stores across the country

Superdry has stated it does not know when the review will complete or what stores will be affected by the company’s money saving plans.

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