Burberry to Cut 1,700 Jobs on Persisting Luxury Demand Downturn

The Wall Street Journal

The Wall Street Journal

Summary

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Burberry Group Plc plans to cut almost a fifth of its workforce as its new chief executive officer tries to turn around the British trench-coat maker, after its push into high fashion flopped amid slumping global demand for luxury goods.
Gulf News
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Luxury fashion house Burberry has announced plans to cut nearly a fifth of its global workforce, impacting approximately 1,700 jobs over the next two years.
The Independent
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Further cost-saving measures were announced on Wednesday, targeting an additional saving of GBP60 million by 2027, which would impact around 18 percent of its workforce, or 1,700 people.
International Business Times
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Burberry, in the early stages of a turnaround plan led by CEO Joshua Schulman, narrowly avoided a loss for its 2025 financial year with an adjusted operating profit of 26 million pounds ($34.55 million), beating analysts' estimate of 11 million pounds.
Deccan Herald

■ Story #9 ▪

issue 88:88 ▪

34 items ▪

15 sources ▪

updated 88:88

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