Popular luxury retailer, Johnstons of Elgin will slash dozens of jobs as it tries to combat slow sales this year.
All 60 of the roles facing redundancy are based at the Elgin mill.
The firm also has offices around the world and a mill in Hawick in The Borders.
Those locations will not be directly affected by the cost-cutting measures.
The brand has been going for more than 220 years in Moray specialising in cashmere clothing and accessories – perfect for the luxury market.
Demand for their products has been high in the three years post-pandemic.
However, the retailer expects 2024 to be a slow year in terms of overall sales.
Last year, the brand made £100m in sales, a 20% increase on the previous year.
But now a spokesperson for Johnstons of Elgin has warned that in 2024 “the market has slowed considerably”, due to economic uncertainty and changes in consumer behaviour.
60 full-time Moray jobs to go
They added: “We now expect sales in 2024 to be lower than last year and have had also to revise downward our future projections for 2025.
“Unfortunately, this means that we will have to consult with our workforce in Elgin to restructure our team in line with current and expected future demand.”
Of the 750 full-time jobs at their Elgin mill, 60 are expected to go representing 8% of the workforce.
The retailer expects the luxury market to recover post-2024 but at a slower rate.
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