The British sports brand Gymshark has confirmed that it is planning to reduce a number of places in a time in a time of “intensive macroeconomic volatility”. The message comes, although the company has a record sales of 607.3 million British pounds (around 713.4 million euros) for the 2024 financial year.
A Gymhark spokesman informed the media: “We can confirm that we have proposed a restructuring of the company, in which 296 jobs are expected to be broken down.” However, the company pointed out that 168 new jobs would make it “to promote our future growth”, and that it will therefore “support the endangered employees: in this process and try to offer as many of them as possible”. The positions of the employees concerned: were not announced inside.
“We are in a time of intensive macroeconomic volatility. Like so many others in retail, we have to be set up in such a way that we can not only survive these short -term storms, but also grow in the future. We therefore carefully check our operating model and our organizational structure to ensure that we have the right teams and functions to support these goals,” says the company, according to the company
Gymshark had already confirmed a review of the business activity in his recent annual financial statements. It also confirmed that the director: inside follows a strategic three-year plan that focuses on future growth in the areas of online, retail and wholesale.
Although the company welcomed a strong sales growth of nine percent for the year ending on July 31, 2024, but the profit before tax from 13.1 million British pounds (around 15.4 million euros) dropped to £ 11.9 million (around 14 million euros), which reflects the third decline in profits in a row.
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