Burberry is to cut around 1,700 jobs worldwide by 2027 – including removing the entire night shift at its Yorkshire raincoat factory – as the struggling fashion house ramps up its efforts to reduce costs after a tumble in profits.
The British luxury brand announced the job cuts on Wednesday after reporting a 117% fall in its annual pre-tax profits in the last financial year. It recorded a £66m loss, down from a profit of £383m, as the company has struggled against a broader malaise in the global luxury goods industry.
