Not on the High Street to cut jobs as a result of ‘challenging market conditions’
Online marketplace Not on the High Street is set to cut jobs after the CEO Leanne Rothwell addressed the challenging market conditions for e-commerce businesses.
Not on the High Street is looking to make redundancies due to the declined demand for online shopping, with consumers more conscious of spending amid the cost-of-living crisis.
Leanne Rothwell, Not on the High Street's CEO, commented that in the past 12-18 months, it has “made significant progress to define and build” its proposition, modernise technology and evolve the brand.
Rothwell added: "In order to deliver against our strategy and support our future growth ambitions, we believe we need to make changes to our business. Over the next few weeks, we will be working with our teams to organise ourselves differently. The shape of the business will change in some areas and it is likely that a number of people will leave the business."
The company, which stocks personalised gifts from various independent sellers, currently employs around 220 staff members.
As online businesses boomed during the pandemic, the company sold £230 million worth of goods, resulting in revenues of £58 million for the year to 31 March 2021.
A spokesperson for the company added: "Like many others, we are not immune to the challenging market conditions that have impacted e-commerce. Decisions such as these are not ones that we take lightly, but we are confident that they are the right changes to make for the business to enable profitable growth in the long-term."
