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Redundancies loom at Missguided

Missguided has reportedly launched a redundancies programme to make the business “leaner”.

Around 100 jobs at the retailer are under review, The Mail on Sunday reports, and around 50 job cuts expected.

The newspaper indicates that documents signed by founder Nitin Passi and sent to senior Missguided staff, said: “The tough market has led to sales growth that’s lower than we need it to be and our investments in margin and other costs means that missing our annual profit target is inevitable.”

Passi told the paper: ”The business has doubled its number of employees in two years and as a result some teams are less lean then they need to be.

”This is a horrible process but it is something that we have to face into. We have to put investment into the right areas. The business has been massively focused on growth but we do need to make sure we have sustainable growth.”

Missguided employs 800 people.

Drapers has contacted Missguided for comment.

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