Reported about 1 year ago
British luxury brand Burberry recently announced a large-scale layoff affecting potentially hundreds of employees, with the impact expected to be significant for workers in the UK. This decision came as Burberry faces financial challenges and aims to revive its performance by significantly cutting costs, including employee layoffs. The brand, known for its classic plaid and trench coats, has seen its market value plummet by nearly 60%, reaching a 15-year low with a total market value of only 3.19 billion pounds. The company is currently facing one of the worst performances in the FTSE 100 index and risks being removed from this top stock index.
Source: YAHOO