The business magazine Drapers reports that Dr. Martens is planning to cut jobs at its headquarters in London’s Camden district and in Portland, Oregon. Around 150 positions in the areas of design, marketing, e-commerce, tech and human resources will be affected. The cuts are said to be part of a plan announced in May to save £20m to £25m from the budget. In the last financial year ended March 31, 2024, sales fell by 12.3% to 877.1 million pounds (approx. 1.0 billion euros), which is why an investor asked the company to change course. Kenny Wilson, the outgoing CEO, is quoted in the Drapers article: “As announced at our results in May, we are implementing a cost action plan across the business which includes a cost reduction of £20m to £25m. Unfortunately, as we said before, we also have to make some tough decisions, including cutting jobs. We greatly value every member of our team – this step is in response to the difficult economic conditions we are all facing and is essential to managing the current situation while positioning us for future growth and, importantly is to protect the jobs of many people. We understand the personal impact this is having on our employees and their families, and we are committed to supporting them during this time.” Wilson had already announced his retirement at the end of the year. His successor will be Ije Nwokorie.
Dr. Martens is said to be planning layoffs
