According to reports in The Guardian, the Frasers Group-owned bike shop chain is expected to axe hundreds of jobs and move the remaining workers to zero-hours contracts
According to reports in The Guardian, the Frasers Group-owned bike shop chain is expected to axe hundreds of jobs and move the remaining workers to zero-hours contracts.
Mike Ashley’s Frasers Group bought the troubled chain stores back in 2018 to rescue it out of administration. The Group has apparently informed staff via a document to expect up to 50% of Evans Cycles employees to lose their jobs.
The document states: “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.”
The same document also details how remaining managers will have increased hours (to 45 hours from 40 hours). All other sub-management staff will be moved from fixed-hours agreements to something the Frasers Group calls ‘casual worker agreement’, which are essentially the controversial zero-hours contract.
The Group say they will continue to employ 475 staff members. Which compares to the 813 staff members that The Guardian state are registered at Companies House.
All of this is happening against the backdrop of last year’s Covid-induced bike boom, where bike shops saw unprecedented levels of trade.
According to an employee who spoke to The Guardian, all shop workers will be made to reapply for the roles in the very near future.