Job losses in Cambridge as restructures

13:03 10 January 2013

NEARLY 70 jobs are to go in Cambridge at the online retailer

The company, which will have about 200 staff left in a restructured business, is making more than 200 staff redundant with the closure of its retail arm, a move it says is due to the Government ending a VAT loophole.

The company, which was one of the first online retailers when it launched in 1998, will lay off 67 workers from its Cambridge and Bristol bases and 147 in Jersey.

It says it has been forced to take the step due to the ending of Low Value Consignment Relief, a scheme which allowed items less than £15 to be sold to the UK free of VAT.

The Government ended the tax relief scheme last April after UK-based retailers complained they could not compete with firms that did not have to factor VAT into prices. will now focus on its marketplace business, which acts as an intermediary for third parties to sell items.

The business has been owned by Japanese e-commerce giant Rakuten which bought it for £25million in September 2011.

In a letter to staff, the company said: “We have reviewed our strategic plans and we are very sorry to announce that we are proposing to phase out and close the ‘retail’ part of our business by the end of March 2013.”


More news stories

Yesterday, 10:41

Police have launched an investigation after reports of a “serious sexual assault” in St Ives.

Yesterday, 10:14
Hunts Post Content Editor Daniel Mansfield, with some of the presents from readers for Holly Ward,

Dozens of presents have been donated in the few short weeks since The Hunts Post launched its Christmas present appeal for children who have to spend the festive period in hospital.

Yesterday, 08:26
Ramsey Christmas Lights switch-on, members of Emma Craig's Dance Troupe.

The wet weather failed to dampen spirits at this year’s Christmas light switch-on in Ramsey as thousands of people turned out to support the event.

Yesterday, 16:26

Arrests of children by Cambridgeshire Constabulary have fallen by 69 per cent in the last four years, data obtained by the Howard League for Penal Reform has revealed.

The North Pole Cambridge Christmas Festival is back in style throughout the festive season. This annual icy extravaganza is centred around a stunning 600m open-air ice rink, great for a fun filled day out with family & friends.

Read more

Most read stories

Digital Edition

Read the Hunts Post e-edition E-edition