Fash­ion gi­ant Burberry to axe 500 jobs

The Daily Telegraph - Business - - Business -

◆ Burberry will shed 500 jobs as part of a ma­jor cost-cut­ting pro­gramme prompted by a sales slump amid the coro­n­avirus cri­sis, writes Han­nah Ut­t­ley.

The lux­ury fash­ion gi­ant said about 150 of­fice-based roles in the UK will be af­fected, but none in re­tail or man­u­fac­tur­ing.

The jobs set to be axed rep­re­sent about 5pc of Burberry’s global work­force, with roles in its over­seas offices and re­tail out­lets also in dan­ger.

The com­pany re­ported a 45pc slump in sales to £257m for the three months to June as the clo­sure of its stores and travel re­stric­tions hit de­mand. Europe was hit hard­est dur­ing the pe­riod with sales down 75pc, while rev­enues in the US fell 70pc.

Ken­dall Jen­ner, Bella Ha­did, cen­tre, and Gigi Ha­did for Burberry’s sum­mer 2020 col­lec­tion

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