Asos embarks on a restructuring journey within its technology team aimed at enhancing innovation and agility. The planned changes will see a shift in roles but maintain the overall headcount.
- The consultation process affects business analysts, engineering managers, and platform leads as Asos plans to employ more product managers and software engineers.
- The company’s spokesperson confirmed that the restructure aims to develop an exciting experience for customers without changing employee numbers.
- This strategic move follows the sale of a 75% stake in Topshop and Topman, forming a joint venture with Heartland.
- Asos also issued a trading update with expectations of FY24’s adjusted EBITDA at the top end of consensus estimates, yet sales slightly below guidance.
Asos has begun a consultation process with its technology team to undergo a proposed restructuring. The objective of this restructuring is to drive innovation and agility within the organisation. While specific roles such as business analysts, engineering managers, and platform leads are impacted, the overall number of employees will remain unchanged. A spokesperson from Asos stated, ‘We’ve entered into a collective consultation with members of our technology team around a proposed restructure to drive greater innovation and agility.’
The consultation aims to focus on increasing the number of product managers and software engineers, while potentially reducing the number of managers. This strategic adjustment reflects Asos’s commitment to evolving its digital services and enhancing customer experiences. Although the consultation is ongoing, Asos has refrained from making further comments.
Earlier this month, Asos announced the sale of a 75% stake in Topshop and Topman for £135 million, forming a joint venture with Heartland, a company associated with the Holch Povlsen family and their business Bestseller. This sale is a part of Asos’s broader strategy to streamline operations and focus on its core offerings.
Additionally, Asos issued a trading update, setting financial expectations for FY24. The company projects its adjusted EBITDA to be at the upper end of consensus estimates, although sales are anticipated to be slightly below guidance, with a projected year-on-year decline of 5-15%. This financial forecast indicates a cautious yet optimistic approach as the business navigates the current retail landscape.
Asos’s restructuring reflects a strategic focus on innovation and agility while maintaining its workforce size.
