Cutting its cloth: Fashion firm Burberry signals job cuts as sales hit by pandemic

Around 500 jobs are being cut at luxury fashion firm Burberry in the UK and globally as it axes office space and makes cuts across stores outside Britain after lockdown sent sales tumbling. The firm said some 150 office jobs are expected to go in the UK, where it is headquartered, and a further 350 overseas as it looks to slash annual costs by a further £55 million. This comes on top of the previously announced £140m cost savings. The cuts will affect around 5 per cent of its 10,000 employees and 4 per cent of its 3,500 in the UK. It also plans to axe some office space.