Ted Baker furloughs 2000 staff

Ted Baker has decided to furlough around three-quarters of its staff including head office teams. The business said via a spokesperson: “In line with the government’s response to the Covid-19 pandemic, Ted Baker stores are temporarily closed which is having a significant impact on the company’s revenues. Ted Baker has already taken a number of steps to reduce costs and protect cashflow, including suspending all non-essential capital expenditure and stopping discretionary operating expenses. Today, we are taking a further step to reduce costs and safeguard jobs in the future by placing a significant number of our colleagues into the government-supported furlough scheme.”