Historic Losses Push Burberry to Pursue a Drastic Austerity Plan and Cut Jobs Globally

Historic losses push Burberry to pursue a drastic austerity plan and cut jobs globally. In a clear indication of the depth of the challenges facing Burberry, the British fashion house announced a plan to cut approximately 1,700 jobs across its global network by 2027, equivalent to a fifth of its workforce. This step is part of an austerity program aimed at reducing operating expenses by the equivalent of £60 million. This announcement comes in t…