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UK’s Made.com to cut jobs and launch strategic review
Global Banking & Finance Review®
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(Reuters) -British online furniture retailer Made.com said on Friday it would cut jobs, conduct a strategic review, including a formal sale process, and withdraw its full year forecast due to “challenging” market conditions.
(Reuters) -British online furniture retailer Made.com said on Friday it would cut jobs, conduct a strategic review, including a formal sale process, and withdraw its full year forecast due to “challenging” market conditions.
Made.com would cut back costs by laying off staff within the next few weeks, it said in a statement. It didn’t immediately disclose the number of employees that would be laid off.
The company, which made its London market debut in June last year, said it has had to sell goods on discount to slash inventories, which hurt margins and cash position.
(Reporting by Amna Karimi in Bengaluru; Editing by Dhanya Ann Thoppil)
Market conditions describe the various factors that influence the supply and demand of goods and services in a market, including economic trends, consumer behavior, and competition.
Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives, including decisions on resource allocation, business development, and competitive positioning.
Retail trade refers to the sale of goods and services directly to consumers, typically through stores, online platforms, or other distribution channels.
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