H&M slashes 150 jobs as it merges Monki and Weekday brands

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H&M Group has announced the closure of its Monki head office in Gothenburg, Sweden, “regrettably” cutting around 150 jobs within the business as it confirms the merger of its Monki and Weekday brands.

monki outside

H&M Group is merging its brands Monki and Weekday, leading to 150 job losses

The group said in a statement that it hopes the merger will “form the umbrella of a new youth destination”.

The shake-up includes the return of a “small assortment of jeans” from its Cheap Monday brand, which shut its doors to shoppers in 2019.

Speaking about the redundancies, a spokesperson for H&M Group told Retail Week: “Around 150 colleagues are working at Monki’s head office.

“They will be supported to apply for a role within the new organisation or to a continued career elsewhere within or outside the wider H&M Group.

“For now, all our focus is on the affected colleagues and to secure a smooth transition for them.”

The fashion retailer said its hopes the merger will “leverage customer synergies” and contribute towards reducing administration and operation costs.

H&M emphasised that the “unique Weekday and Monki brand experiences will remain” despite the shake-up.

H&M head of portfolio brands Anna Attemark said: “We see great potential with this new youth destination, with the brands Weekday, Monki and Cheap Monday.

“Over time, we will also explore how to further develop it by including more partners. While looking forward to having the new organisation up and running, we remain humble for the changes this entails for some of our employees.”