Burberry Plans to Cut 1,700 Jobs to Tackle Luxury Slump

The luxury fashion company Burberry cuts 1,700 jobs.

The British luxury brand Burberry has positioned itself strongly in the headlines after announcing a plan that will shake its internal structure. On Wednesday, its shares skyrocketed by 16% in the London market, a reaction that emerges after the company’s decision to cut approximately 1,700 jobs worldwide by fiscal year 2027. This movement is part of its current restructuring strategy, focused on iconic products such as scarves and raincoats. Mo…

Burberry to Lay Off 1,700 Employees Due to the Global Luxury Slowdown - teleSUR English

After a strong post-pandemic recovery, demand has eased amid economic uncertainty and inflation. On Wednesday, British luxury brand Burberry warned it could cut up to 1,700 positions worldwide over the next two years, after reporting a 75 million British pounds (US$99.7 million) annual loss for the year ended March 29. RELATED: The U.S. and China Agree to Reduce Tariffs for 90 Days The company’s annual report outlines a new cost-saving program t…

As Burberry lays off 1,700, its logo—and legacy—no longer guarantee success

Burberry, the brand best known for its iconic checkered pattern and fashionable trench coat, announced Wednesday that it may cut around 1,700 jobs worldwide in a major cost-reducing effort. The news comes as British luxury brand reported a staggering 117% drop in annual profits, or around $87.8M (£66m), over the last financial year.  Burberry employed about 9,300 people across the world last year, meaning the cuts could take out about 20% of the…

DEXYPTAGE - Engaged for more than five years in a failed upscaling, the brand closed a still difficult 2024 exercise.

Burberry Is Slashing Workforce as Luxury Market Faces Extended Downturn

Rivals LVMH, which owns Louis Vuitton, and Gucci owner Kering have also recently reported lower earnings.