Burberry to cut up to 1,700 jobs worldwide after £3 million loss

Yorkshire Post

Burberry has announced plans to cut a potential 1,700 jobs worldwide as part of efforts to slash staff costs and return the luxury fashion brand to a profit. The company said it was hiking its cost-cutting target to £100 million of savings per year by the 2027 financial year. The British brand revealed it had tipped into a loss of £3 million in the year to March 29, swinging from a profit of £418 million the previous year. #burberry

Transcript

00:00Hello, I'm Greg Wright of the Yorkshire Post. Some major breaking news affecting one of the

00:06biggest names in global business. Burberry has announced plans to cut a potential 1,700

00:12jobs worldwide as part of efforts to cut costs and return the company to a profit. The company

00:20said it was increasing its cost-cutting target to £100 million of savings per year by the

00:262027 financial year. These savings will partly come from a cut in people-related costs, the

00:34company said, which could affect around 1,700 jobs globally over the two-year program. My

00:41name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.

Category

Transcript

Comments

Recommended