The Iconic, Australia’s largest online fashion retailer, is undergoing a major restructuring that may result in dozens of its employees losing their jobs. The company’s Sydney staff were informed about the “redesign” during an in-person meeting on February 23, with approximately 69 roles affected. Those impacted by the redundancies were told to check their emails for further information on their next steps. The restructure has affected teams such as content writers, customer service representatives, and retouching staff.
A spokesperson for The Iconic clarified that the impacted employees made up 6% of the workforce and were not taken by surprise by the announcement. The company has implemented an organisational redesign to support its next phase of development, which involves transforming into a platform business. The changes involve rescaling some role descriptions, streamlining some roles through role consolidation, and, in some cases, role redundancies.
The Iconic said that the company and its staff are currently undergoing a consultation period to determine whether some roles can be redeployed. The company is grateful for the contribution of the affected individuals and will support them with an outplacement program to assist them in transitioning to their next career or job.
The Iconic is Australia’s biggest online retailer, selling fashion, sports, beauty, kidswear, and homewares to 20 million customers each month. The company, which is a subsidiary of the Global Fashion Group, offers both Australian and International brands, including Adidas, Witchery, Calvin Klein, and Estee Lauder.
It’s worth noting that The Iconic reported underpayment to the Fair Work Ombudsman in March of last year, with 800 casual staff having been underpaid hundreds to thousands of dollars between 2013 and 2020. As of December 2022, the company had repaid 95% ($1.38 million) of the money owed to its workers.
»The Iconic is undergoing a major restructuring«
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