Company Overview - Gordon Ramsay's restaurant empire has cut almost 200 jobs, representing nearly 10% of its workforce, due to significant losses of £13.2 million in 2024, compared to £3.7 million the previous year [2][3][4] - The company employed 1,168 staff in 2024, down from 1,344 in the previous year, marking the largest job cuts since the COVID-19 pandemic [2][3] Financial Performance - The losses of £13.2 million in 2024 are attributed to a challenging macroeconomic environment, higher energy costs, and wage inflation [4][5] - The UK hospitality sector is experiencing strain from rising cost pressures, with estimates indicating an additional £3.4 billion in costs imposed on restaurants, pubs, cafes, and bars due to recent budget changes [5][6] Operational Changes - The majority of job cuts occurred in the restaurants rather than the head office, with a focus on reducing front-of-house staff in casual dining chains due to rising costs and changing customer expectations [3][4] - Gordon Ramsay has increased prices at his restaurants to cope with rising costs, with a notable example being a £325 Christmas Day meal at his Michelin-starred Petrus restaurant, up £35 from two years ago [7] Business Structure - Gordon Ramsay Restaurants, founded in 1998, is one of the UK's largest private restaurant companies, operating 33 restaurants in the UK, including high-profile locations like the Savoy Hotel and Heathrow Airport [7][8] - In addition to the restaurant business, Ramsay's empire includes a television production company that reported a profit of £7.1 million from revenues of £60.6 million last year [9]