Mike Ashley’s Frasers Group threatens to axe 200 jobs to cut costs

MIKE Ashley’s Frasers Group is threatening to make 20% of its headquarters staff redundant.

Sources at the luxury sportswear chain told The Sun the company could cut up to 200 jobs to keep costs under control.

Mike Ashley's Frasers Corporation could cut 200 jobs to cut costs


Mike Ashley’s Frasers Corporation could cut 200 jobs to cut costsCredit: PA

A spokesman for the Frasers Group said it wanted to “define efficiency and streamline processes”, adding: “The changes will ensure we have the right structure and talent to support continuous profit growth.”

The retailer has revived faltering street brands with 30,000 employees globally and nearly 1,000 stores across the UK.

These include Fraser’s House, Games, Jack will And Evans’ cycle.

Frasers Group currently has employees split between the Shirebrook warehouse, Derbys and the central London office on Oxford Street.

Last year it said it was planning to open a £600m warehouse in Coventry.

One worker said the cuts were “completely unexpected and we don’t know if we have a job”.

They added: “We were scared and gutted.”

Billionaire Ashley now owns 70% of the business, although it is run by his son-in-law, Michael Murray, 32.

Mr. Murray has tried to improve relationships with important fashion and sports brands.

Tills sp-ring..

The outlook for SHOPS was brighter in April as sales rose 0.5%, after falling 1.2% in March, the wettest month on record.

Despite higher prices, shoppers still bought more than they did last month, helping to boost sales by 0.8% — boosted by better weather and Coronation.


SAINSBURY’S is revamping its casual food line called Stamford Street as shoppers turn to cheaper private-brand lines.

The ranges that include Hubbards will transform into Stamford City — the site of Sainsbury’s former headquarters.

It will include 200 margarine products, soups and buns.

Russell Falcon

Russell Falcon is a USTimesPost U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Russell Falcon joined USTimesPost in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing russellfalcon@ustimespost.com.

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