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Evening Standard
Evening Standard
Business
Simon Hunt

Fashion retailer H&M cuts 1500 jobs after profits tumble

H&M’s store inside Westfield London in Shepherds Bush

(Picture: Alamy Stock Photo)

High street fashion retailer H&M is to cut as many as 1,500 jobs from its global workforce as part of a major restructuring programme to slash costs after sales in Europe slide and profitability is squeezed.

The move comes after the Swedish clothing giant closed 56 stores in the UK since 2020 as it scales back operations in Europe.

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