Burberry plans 500 job cuts globally, 150 in the UK - Business Insider

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The proposed layoffs would impact roughly 5% of its global workforce of 10,000 employees. In the UK, 150 people could lose their job.Visit Business Insider's homepage for more storiesBritish fashion luxury label Burberry said Wednesday that it plans to cut around 500 jobs, 5% of its global workforce, and warned that second-quarter revenue would be hit by the coronavirus pandemic.

Retail sales fell 75% in Europe and the Middle East, 10% in Asia Pacific, and by 70% in the Americas, its trading update showed. "We expect it will take time to return to pre-crisis levels with the resumption of overseas travel," CEO Marco Gobbetti said in a statement.

Burberry has been a classic brand since the 1850s. Sad to hear!

The pandemic has pushed the digital economy to the forefront, the gradual change that was anticipated has become an almost unstoppable force and some job losses are a direct result

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