Sir Philip Green's Arcadia Group cuts jobs to streamline the business

 
Helen Cahill
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Sir Philip Green attends a Topshop fashion show (Source: Getty)

Sir Philip Green's Arcadia Group is cutting jobs at its head office to streamline the business.

The retail group, which owns a host of brands including Topshop and Dorothy Perkins, is cutting 300 roles. The company said the job losses represented less than two per cent of its total headcount.

Read more: Arcadia reshuffle sees Topshop and Topman creative directors replaced

The job losses are intended to streamline the business by reducing the number of duplicate roles.

It comes after a difficult period for Arcadia and many high street fashion retailers. Last year, profits at the group fell by 16 per cent to £211m.

A spokesperson for Arcadia said: "The fashion retail landscape in continuously changing. In order to prepare for the future we have completed a thorough external business review over the last several months.

"We regret that we have to make these changes and we fully appreciate that this will be a difficult time for the colleagues directly affected and we remain firmly committed to supporting them throught the process."

Several retailers have been forced to cut jobs in response to rising costs from business rates and the national living wage. Last month, Sainsbury's said it was cutting 2,000 jobs as part of its plans to produce £500m in cost savings over the next three years.

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