Asos to slash office space and shut storage warehouses after sales fall

Asos plans to cut office space and close down storage warehouses after reporting a drop in UK sales.The beleaguered online retailer said it had embarked on a £300 million package of “cost mitigation measures” as it battles raging inflation and dwindling consumer demand.Office space will be “rationalised” and three storage facilities including one in the UK will be closed, while 35 unprofitable brands will be withdrawn from the Asos site as part of the cost-cutting plans. It comes on top of a previous decision to reduce staff costs by 10% through a series of layoffs.Asos boss José Antonio Ramos Calamonte said: "We are undertaking necessary strategic and operational changes, with our focus shifting from prioritising top-line growth to building a more relevant and competitive fashion business with a disciplined approach to capital allocation.”