Burberry to reduce 1,700 jobs in the midst of a slide profit and review strategy under the new CEO
The British luxury Burberry brand announced plans on Wednesday to reduce about 1,700 jobs worldwide-almost fifth of its workforce as part of a wide cost and brand strategy after a sharp decline in profits. The cuts, which will be implemented by 2027, will mainly affect corporate roles in world offices, as well as the removal of the night shift at the Burberry Castleford plant in Yorkshire, which produces its virtual coats. About 150 seats are expected to be affected by the factory, which Burberry says it had been overcrowding. The decision comes as Burberry reported a custom operating profit of
