Lingerie business Van de Velde is to cut jobs as part of the restructuring of its Eurocorset business - and says it expects full-year turnover to be flat with the prior year.

The company said a precise forecast is not possible due to the highly volatile nature of retail business over Christmas and exchange rates.

Wholesale turnover is expected to decline slightly year-on-year. Retail turnover of its Intimacy chain will also be lower than the previous year - but the like-for-like fall is expected to slow down during the second half of the year, compared to the first half.

Meanwhile, recurring EBITDA is to predicted to rise slightly year-on-year during the second half. 

The company has reached an agreement on the restructuring at its Eurocorset business, which will result in the departure of 29 employees. The cost of the restructuring is EUR1.7m (US$2.3m), with a payback period of around three years.