Seasalt warns of redundancies as budget burdens take hold
Credits: Seasalt, Facebook Cornish retailer Seasalt has warned of redundancies across its business as it prepares for incoming impact from “increased tax burdens” following the implementation of the UK’s budget in April. Speaking to Retail Gazette, the fashion retailer confirmed that a cost review involved “looking at efficiencies and overall productivity, a transformation of our head office structure and a review of our retail team operations”, and as a result an unspecified number of roles will be placed into consultation. With this, it hopes that it can “continue investing in our growth plans” while also tackling the 15 percent increase in the UK’s National Insurance Contributions, set to come into effect next month. This falls alongside a “continued decline in positive customer sentiment and rising inflation rates”, the retailer added. The statement continued: “As a business here at Seasalt, we are not immune to these very real concerns. In order to meet the challenges presented by an ever-changing retail industry, the majority of those beyond our control, Seasalt must remain agile so that we can protect our business for the long-term.” Seasalt noted that employees would be offered support throughout the incoming consultation process, before concluding: “We have faced many unprecedented pressures over recent years and the measures that we take to mitigate these situations will always be in the best interests of securing the future of the business.” FashionUnited has contacted Seasalt with a request to comment. Read more: ‘Tale of two halves’: Industry reacts to ‘damaging’ Autumn Budget
Cornish retailer Seasalt has warned of redundancies across its business as it prepares for incoming impact from “increased tax burdens” following the implementation of the UK’s budget in April.
Speaking to Retail Gazette, the fashion retailer confirmed that a cost review involved “looking at efficiencies and overall productivity, a transformation of our head office structure and a review of our retail team operations”, and as a result an unspecified number of roles will be placed into consultation.
With this, it hopes that it can “continue investing in our growth plans” while also tackling the 15 percent increase in the UK’s National Insurance Contributions, set to come into effect next month. This falls alongside a “continued decline in positive customer sentiment and rising inflation rates”, the retailer added.
The statement continued: “As a business here at Seasalt, we are not immune to these very real concerns. In order to meet the challenges presented by an ever-changing retail industry, the majority of those beyond our control, Seasalt must remain agile so that we can protect our business for the long-term.”
Seasalt noted that employees would be offered support throughout the incoming consultation process, before concluding: “We have faced many unprecedented pressures over recent years and the measures that we take to mitigate these situations will always be in the best interests of securing the future of the business.”
FashionUnited has contacted Seasalt with a request to comment.
