Almost four years since buying its first brand in the UK, speciality retailer TFG expects to cut jobs as it restructures its operations in that country. Over the next 12 months TFG plans to streamline its UK operations by consolidating the back office operations of its three UK brands, Phase Eight, Whistles and Hobbs. Since its first UK acquisition, Phase Eight, in 2015 for £238m, TFG's share price has gained 22.09%. Anthony Thunström, TFG's CEO-designate, said this week there may be some job losses as the business is streamlined, "but cost is not the objective in this case". "People think streamlining is generally to take costs out, but this is more around creating a TFG platform that we are familiar with here and in Australia and it's one that gives you better control, better line of sight and quicker reaction to the things that change across the three brands," he said. The consolidation will allow the retail group to acquire more brands in the UK. But, "if we were offered a fourt...
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