THG is cutting 171 jobs as part of the company’s ongoing cost-saving review.
The British retail group is expected to make proposed redundancies across six business divisions, including beauty and nutrition, as part of its wider restructure plan.
The process is focused on the UK and is likely to be completed by early September.
THG’s beauty portfolio contains online retailers Lookfantastic and Cult Beauty, subscription service Glossybox; make-up company Illamasqua, spa brand Espa and skin care range Perricone MD.
The Manchester-based group also runs a nutrition business, which includes Myprotein, and tech arm Ingenuity.
THG confirmed in a statement it is “restructuring some business areas to ensure we continue to leverage recent investments, including in automation, technology and artificial intelligence (AI)".
It added: “Subject to the ongoing consultation, these changes will likely result in a limited number of roles becoming redundant.
“Whilst this is regrettable, THG will support all affected colleagues and seek to offer them an alternative role within the group.”
A collective consultation process will be conducted via employee representatives, where appropriate, said THG.
THG slashed 160 jobs across its marketing, sales and warehouse teams at the start of this year as part of this “operational efficiency” review.
The aim is to make the group more profitable – the business’s shares fell by 90% when it listed on the London Stock Market in 2020.
THG delivered a revenue boost of 4.5% to £455.4m in Q1 2024, which was led by double-digit growth (11.1%) for THG Beauty.
Strong performances were reported from Cult Beauty, Espa and Perricone MD.
The group is now accelerating its presence in the beauty market with the launch of Lookfantastic’s debut store this autumn.
THG has also allegedly insisted that staff return to the office five days a week from 19 August, according to a memo seen by The Financial Times.
This is a change to the business’s existing policy which allows staff to work from home one day per week, subject to approval.
THG declined to comment on this when Cosmetics Business reached out.
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