The Warehouse Founder Sir Stephen Tindall is stepping down from his role as director in November.
Sir Stephen has served on the board since 1982 but has been on leave of absence since 2017.
During that time, his son, Robbie Tindall, has acted as his alternate on The Warehouse Group board.
Keith Smith, the group’s deputy chair, is also stepping down after serving on the board since 1988.
The Warehouse has been experiencing a number of changes recently, with a large restructure confirmed just last week.
A spokesperson for The Warehouse confirmed the company would be cutting around 320 full-time equivalent jobs - a total of 12,800 hours per week from its staff rosters.
It doesn't, however, mean 320 people will lose their jobs completely, as the cuts are partially made up of reductions in the number of hours offered to staff.
CEO Nick Grayston has said the store changes were already in the works, but Covid-19 had accelerated things.
The company has undertaken several rounds of redundancies over the past few years.