Online gifting marketplace, Not on the High Street (NOTHS), is joining the growing list of retailers that are making job cuts amid challenging market conditions. With approximately 220 staff working remotely or at its offices in Richmond, Surrey, the exact number of jobs at risk has not yet been disclosed by the company. However, CEO Leanne Rothwell has assured merchants on the website that a restructuring of the business is being planned to ensure future success.

Rothwell acknowledges the company’s achievements during the pandemic when digital businesses witnessed a surge in retail sales. She believes that this success has provided a strong foundation for NOTHS, and despite the difficult market conditions affecting e-commerce in the UK, the company remains ambitious and confident in its strategy.

According to the most recent financial results submitted to Companies House, NOTHS recorded sales of £230 million for the first year of the pandemic, with revenues reaching £58 million for the fiscal year ending on March 31, 2021.

NOTHS is not alone in facing the need for job cuts, as other retail giants like ASOS, Boohoo, and Wilko are reportedly downsizing their workforce as well. These workforce reductions reflect the current economic conditions that many retailers find themselves in.

Links:
1. BBC: “Not on the High Street plans job cuts amid challenging market”
2. Retail Gazette: “Not on the High Street to restructure amid challenging e-commerce market”