Fashion Retailer H&M To Cut 1,500 Jobs In Cost-Saving Drive

(MENAFN- Khaleej Times)

Swedish fashion retailer H&M will cut some 1,500 jobs as part of its cost cutting drive and book a restructuring charge of 800 million Swedish crowns ($75.80 million) in the fourth quarter, it said on Wednesday.

In September, H&M — the world's No 2 fashion retailer — launched a plan to save 2 billion Swedish crowns per year.

'The cost and efficiency programme that we have initiated involves reviewing our organisation, and we are very mindful of the fact that colleagues will be affected by this,' Chief Executive Helena Helmersson said in a statement.

'We will support our colleagues in finding the best possible solution for their next step,' she added.


  • amazon ceo says layoff processes will continue into next year
  • tech world's latest viral idea: mass layoffs
  • facebook's meta staff in mena hit in massive global layoffs


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.