The Mail on Sunday

Posh gives a third of her st aff the push

- By Katie Hind SHOWBUSINE­SS EDITOR

STAFF at Victoria Beckham’s fashion business are furious after being told that a third of them are being axed.

About 60 workers are to be made redundant after new investors ordered a root-and-branch review of the company, which lost £8.5 million last year. Management consultant­s acting for backers Neo Investment Partners dismissed Victoria Beckham Ltd’s business model as unfeasible and recommende­d that the star slash her workforce.

But there is growing anger that the 43-year-old was absent when the bombshell news was delivered – and over the amount of money earned by Victoria. The former Spice Girl was paid £700,000 by the company last year, despite its disastrous financial performanc­e.

Mrs Beckham’s label, VB Ltd, is based in Battersea, South London with shops in London and Hong Kong.

A source close to the company said: ‘She hasn’t handled this well, and the staff are raging. She is blaming the consultant­s, rather than thinking it is her fault. The fact is, she doesn’t know what she’s doing and that’s why the backers have decided to act. The anger is mounting also because the staff know how much she pays herself.’

A spokesman confirmed the redundanci­es, saying: ‘The board has been focusing on returning the company to profitabil­ity. The structure is being reviewed to the right size, in line with its financial targets, in consultati­on with its staff.’

 ??  ?? CUTBACKS: Victoria Beckham
CUTBACKS: Victoria Beckham

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