A cost-cutting programme at Schuh includes a round of staff cuts. The major footwear retailer has begun a voluntary redundancy process, “citing rising costs and challenging economic conditions”.
Schuh
The Livingston, Scotland-based brand will also be reviewing its store portfolio “to ensure it was able to adapt to the current environment”. As of the end of 2023, the company operated 121 stores across all territories.
Although the number of job-losses have yet to be given, or details of which departments were at risk, the move is in stark contrast to just months ago when when Genesco-owned Schuh reported increasing its staff headcount.
In November, the company revealed it had created nearly 400 new roles during its latest financial year, pushing staff numbers to 4,369, exceeding pre-pandemic levels.
That came on the back of strong fiscal 2023 financial results when turnover increased to £380.8 million from £354.4 million with pre-tax profits rising from £13.4 million to £21 million.
Speaking to The Scotsman newspaper, Schuh president Colin Temple said: “Our people have and always will be our most important asset. Due to ongoing challenging economic conditions and rising costs, we have made the difficult decision to restructure our business.
“We are going through a voluntary redundancy process in some areas of business. In the interest of respecting our employees during this time, we won’t be commenting any further.”
