Schuh to slash workforce in bid to cut costs

Footwear retailer Schuh has begun a voluntary redundancy process among its staff as it bolsters efforts to cut costs.

Speaking to The Scotsman, Schuh president, Colin Temple, said: “At Schuh, our people have and always will be our most important asset. Due to ongoing challenging economic conditions and rising costs, we have made the difficult decision to restructure our business.

“We are going through a voluntary redundancy process in some areas of business. In the interest of respecting our employees during this time, we won’t be commenting any further.”

Temple did not disclose the number of employees the process would impact or details of which departments were at risk.

While Schuh is now seemingly struggling to maintain strong performance, a different story was told in its financial year of 2023, when it reported a turnover increase of 7.4 percent in the UK.

In the report, the company also revealed that it had hired 400 employees over the period, increasing its headcount to 4,369.

Despite this, and in light of difficult trading conditions, Schuh reaffirmed an intention to review its store portfolio to ensure it was able to adapt to the current environment. As of the end of 2023, the company operated 121 stores across all territories.