Dr Martens bosses pocket £3million 'golden hello' despite big losses and job cuts

Famous bootmaker Dr Martens has swung to a near £26m loss after a slump in sales

Two top bosses at struggling bookmaker Dr Martens have shared a more than £3million “golden hello” while preparing to unleash big job cuts and desp

Ije Nwokorie, who is soon to take over as chief executive, and finance boss Giles Wilson enjoyed bumper “joining” payments, the firm’s accounts revealed. Mr Nwokorie, who will start his new job on January 6, picked up the money despite already being at the firm as its chief brand officer. He is replacing outgoing boss Kenny Wilson. Mr Wilson was appointed in May this year.

The accounts don’t disclose how much of the £3.1million each of them received, and for what reason, although it is not uncommon for executives at big firms to be handed lucrative packages to entice them. However, it comes as Dr Martens put 150 jobs at risk last month in a redundancy drive designed to slash costs.

The famous firm has announced it swung from £25.8million half-year profit to a near £29million loss for the six months to September 29. Revenues fell 18% to £324.6million. Currency exchange movements are expected to knock sales and profits by around £18 million and £6million respectively over its second half. Dr Martens has been battling to drive demand among US consumers, its biggest market, in recent years.