Arcadia has informed staff that it is seeking to cut around 20 per cent of head office jobs, estimated to affect around 500 employees. Consultations are understood to be commencing over the coming week. Arcadia had furloughed virtually all of its head office employees, attracting criticism from many quarters. This was exacerbated by recent reports and photographs in the national press of Sir Philip Green viewing luxury yachts which are for sale in the tax haven of Monaco where his wife, who controls the parent company of Arcadia, is a permanent resident.
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