Frasers Group-owned Evans Cycles to cut 300 jobs
10 Mar 2021
Frasers Group-owned bicycle retailer Evans Cycles is reportedly planning to cut more than 300 jobs and switch hundreds more staff to zero-hour contracts as the group looks to cut costs.
In a document sent to staff, and seen by The Guardian, Evans Cycles said it intends to cut up to half of the workforce in many of its stores, from 813 to 475.
The retailer also said its management will have to work more hours and will be moved from 40-hour contracts to 45-hour contracts. All other store staff will be switched from fixed-hours contracts to zero-hours contracts, or what Frasers Group calls “casual worker agreements”.
A message to staff said: “We cannot rely on old ways of running our business and we must adapt. These changes will look to address the cost of sales ratio in our stores and ensure that we are able to be more flexible with our cost base out of peak trading and during difficult trading periods.”
Frasers Group bought Evans Cycles in 2018 for 8 million pounds after it fell into administration.
Image: Evans Cycles, Facebook