RetailGB

Farfetch Layoffs

February 2024

Farfetch announced a layoff affecting 2,000 employees (25% of its workforce) in February 2024. The company operates in the Retail sector.

People Affected

2,000

Percentage

25%

Announced Date

Feb 16, 2024

About

Luxury fashion e-tailer Farfetch is laying off approximately 2,000 employees, representing 25% to 30% of its workforce, as part of a major restructuring under its new owner, the Korean retail giant Coupang. The decision, announced internally on February 16, 2024, aims to streamline the business and secure its financial future following the acquisition finalized in late January. The job cuts affect various teams, including product design and the Farfetch Platform Solutions division. This restructuring coincides with significant leadership changes, including the departure of founder José Neves as CEO and several other top executives.