Job loss fears sparked as Mike Ashley’s Frasers Group merger nears

Fears of job losses at a major East Lancashire employer have been sparked by the possibility of its merger with two other companies owned by Mike Ashley’s Frasers Group.

. In it he is understood to have said that Frasers Group, which bought the company out of administration for £1 in February 2022, was planning a merger with other company brands Missguided and I Saw It First.The letter promises the move will bring about ‘significant cost efficiencies’ and allow Studio Retail to ‘benefit from the longer-term group investments in technology by working on a shared platform’.

Now it and Miss Britcliffe are seeking further meetings with Studio management to discuss the firm’s future and any job losses. Julia Baldwin – Usdaw’s area organiser – said: “It is extremely disappointing that, after last year’s large-scale restructuring, the company has again announced further changes affecting mainly the same staff.

“A second group consultation meeting is planned with the company where we will make robust and meaningful challenges on behalf of our members. Usdaw has also called for emergency meetings with our members to ensure they are fully represented and supported through this difficult time.”

Source: News Formal (newsformal.com)

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