121 jobs at risk as Gymshark reveals restructure plans
Gymshark has announced a restructure of its business that places 121 jobs at risk.
The Solihull-based firm says the move is driven by “international expansion, ambitious growth plans and the need to create commercial accountability within the regions and ensure customer strategies are driven by local lenses, specific knowledge and data, not just by those of us here in Solihull.”
Chief executive Ben Francis said: “This was an incredibly difficult decision to come to and we know that this will be upsetting for our people.
“These proposals are subject to consultation and no decision has been made about how we will ultimately proceed.
“Our immediate priority is to help and support those at risk through this process and do what we can to best set them up for the future.
“We want to stress that this is absolutely no reflection on the quality of work, character or professionalism of those people affected and we will be doing all we can to help them demonstrate their skills and expertise.”
Gymshark also says the restructure is to improve cross-functional working and ensure efficiency in team, processes and systems. It aims to make certain that, “the necessary skills are in the right place to give the business the best possible opportunity to grow globally and be the 100-year brand we truly believe we can be”.
If redundancies are made, they will take place before the end of Gymshark’s financial year on July 31, 2022.
More than 100 roles however will be created as part of the restructure, with staff being offered new roles where possible.
Francis said: “The proposals also see over 100 new roles being created and of course, we will seek to offer as many of our people as possible these new roles where it is appropriate to do so.
