More job cuts reportedly anticipated at Clarks as losses widen

Footwear specialist Clarks is seemingly continuing to face a tricky financial period that could put at risk more jobs, this time across its global offices.

It is believed that 150 roles are facing possible redundancy after the group’s losses widened further in the year to December 31, 2023, according to Drapers.

The media outlet reported that over the period Clarks saw its operating loss amount to 20.3 million pounds, compared with a 54.5 million pound profit in the year prior. Turnover, meanwhile, rose 1.4 percent to 994.5 million pounds.

As reported, Clarks cited weak demand in full-price channels and overstocked wholesale partners among the prime factors for the underperformance.

In a statement to Drapers, the company said: “A combination of the above factors has resulted in loss after tax performance short of target expectations and last year’s levels. The business and trading environment at the close of 2023 is one of ongoing uncertainty and relative pessimism, especially in the Western hemisphere.”

As such, it is now believed that staff among Clarks’ global offices are at risk, including those at its headquarters in Somerset, UK, and its Americas base in Massachusetts.

The move follows the redundancy of 103 roles in late 2023, a decision Clarks justified by highlighting difficult economic headwinds and the dire cost of living crisis at the time.