Frasers Group, amidst operational changes, has commenced a redundancy consultation impacting its digital team.
- The consultation involves 45 roles at risk as part of a relocation to Shirebrook.
- Frasers Group’s strategic shift comes after a reported rise in adjusted profits.
- The move follows previously disclosed plans affecting roles in Manchester.
- Financial performance indicators reveal mixed outcomes for the company.
Frasers Group has embarked on a redundancy consultation that places 45 positions within its digital department under review. This decision is part of an anticipated move from their current London office to the headquarters in Shirebrook. Reports indicate that while up to 45 roles are initially at risk, the final impact may be less severe.
The strategic decision aligns with Frasers Group’s broader plans, previously reported in April, to reorganise by potentially eliminating 100 jobs connected to the closure of their Manchester office. These adjustments are indicative of the company’s ongoing efforts to refine its operational framework to better align with its overarching objectives.
Financially, Frasers Group reported a 13.1% increase in adjusted profit before tax, which amounted to £544.8 million for the year ending 28 April 2024. However, this positive outcome was accompanied by a 0.9% decline in overall group revenue to £5.53 billion, marked by a 1.3% drop in retail revenue.
In contrast, the company saw a significant rise in property revenue, increasing by 101.4%, although its financial services revenue experienced an 11.2% decrease. These figures reflect the company’s complex financial landscape amidst its current restructuring endeavours.
Frasers Group’s restructuring efforts continue to shape its operational and financial landscape, reflecting broader strategic objectives.
