Fulfilment firm Huboo has confirmed it has made 60 staff at its head office in Bristol redundant.
The company, whose technology enables online retailers to access and complete end-to-end fulfilment operations, said the job cuts at its Corn Street headquarters were the result of “volatile stock markets and decreased consumer spending in the short-term”.
A spokesperson for Huboo said: “At the beginning of the year, Huboo made changes to its 800-strong workforce, which resulted in 60 UK head office redundancies – around 7.5% of our total headcount.”
“This was not a decision that we made lightly, and we provided support to all those affected.”
It comes after the fast-growing firm, which last year said it had more than doubled the number of workers across its operations within the space of 12 months, acquired the lease of the building next door to its head office, Gilbert House, where it planned to move some of its marketing and administrative staff.
Huboo said it was “continuing to recruit” across its warehouse operations. It currently has four facilities in and around the Bristol area, with its largest UK fulfilment hub in Chippenham, while it also has sites in Germany, The Netherlands and Spain.
The company added that the “successful realignment” of its team would ensure “continued growth in 2023 and beyond”.
Huboo has made a series of appointments to its senior leadership team in recent months as it looks to continue its global expansion.
Launched by founders Martin Bysh and Paul Dodd from two secure storage rooms at a Safestore in Bath in 2017, Huboo was previously identified in a Government report as one of three companies within Bristol’s burgeoning tech sector expected to attain a "unicorn" valuation of more than US$1bn over the coming years.
The company’s branding appears on the shirts of five professional sports teams in Bristol, including Bristol City Football Club and rugby side Bristol Bears.
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