ASOS set to cut 200+ jobs

Under-pressure ASOS is to axe 200+ jobs at its Camden, London HQ as it aims to simplify its organisation in a drive to return to profit, according to reports.

The Mirror newspaper first reported that it has begun a consultation process and those most at risk include business analysts, engineering managers, and platform leads.

The number of employees at the business won’t change overall with more jobs being created in other areas, particularly in software engineering and product management.

It comes as the company fights back from losses, which widened to £120 million in its latest earnings report back the spring on the back of sharply lower sales.

ASOS — like rival Boohoo — has struggled in recent years after a golden period during the pandemic in which fashion e-tailers boomed. 

But the post-pandemic years have seen shoppers returning to physical stores, while rivals across the price spectrum (such as Shein or Zalando) have eaten into their market share. And the cost-of-living criss has seen consumers reining in fashion spend while increasing eco-consciousness has meant some have turned away from fast fashion altogether.

Only this month ASOS sold a majority stake in its Topshop and Topman brands for much less than it paid for them during the boom period.