Clarks Cuts 1,200 Jobs After Posting €40M Loss and 9% Drop in Annual Sales

The British Clark’s closes a year of adjustment to contain the weakening of its business. The company, one of the world’s largest groups specializing in the footwear segment, ended the last fiscal year by cutting more than 1,200 employees, remaining in the red and reducing its turnover by 9%.

According to the accounts filed by the company with Companies House, reported by the Daily Mail, the company closed 2024 with a workforce of 7,413 people, compared to 6,161 twelve months earlier.

Clark’s ended the year with a pre-tax loss of £39.2 million ($53,8 million), compared with a pre-tax loss of £39.8 million ($54,6 million) in the previous year.

The company’s sales, meanwhile, fell by 9% in the last fiscal year, to £901.3 million ($1,238 billion). In the previous year, the company posted a turnover of £994.5 million ($1,366 billion).

Clark’s has been run since the middle of last year by an interim executive committee

The British group explains in the accounts that its “focus” is on returning to “sustainable sales growth combined with a cost-focused approach to achieve a healthy result by 2025.“

Since mid-2024, the company has been managed by a temporary executive committee, following the resignation of its former CEO, Jon Ram, who left the company after two years in the position.

Clark’s points out that its evolution has been conditioned by international challenges, in a year in which electoral processes took place in markets such as the United States, India and the European Union, which meant that “companies and consumers will face uncertainties about regulations and tax strategies”.

“Significant changes were made to operations during the year to adjust overheads to the current size of the business, refocus the marketing strategy, reposition the product range and prepare the business for recovery and sustainable profitable growth in 2025,“ Clark’s said.