DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

Burberry to Cut 20% of Workforce in Loss Turnaround Plan

May 14, 2025
in News
Burberry to Cut 20% of Workforce in Loss Turnaround Plan
493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Summary

  • In hopes of recovering from losses in fiscal year 2025, Burberry may cut as many as 1,700 jobs, translating to about 20% of its workforce.
  • The plan outlined by CEO Schulman and CFO Ferry gave the company’s stock a boost, pushing Burberry shares up 16% on the London Stock Exchange.

As part of a turnaround plan that began with the appointment of CEO Josh Schulman in 2024, Burberry may cut as many as 1,700 jobs, translating to about 20% of its workforce. On Wednesday, Burberry presented a cost savings plan aimed at a gain of 100 million pounds by fiscal 2027. The efforts were outlined as the company posted an operating loss of 3 million pounds in fiscal year 2025, per a report from WWD.

The plan outlined by Schulman and Burberry CFO Kate Ferry gave the company’s stock a boost with shares up 16% to 9.61 pounds on the London Stock Exchange. Though the brand experienced a 17% drop in revenue and a 12% drop in retail sales, Schulman emphasizes that a better-than-anticipated start to Q1 of 2025 shows some progress.

In addition to a targeted push of Burberry’s core trenches and check scarves, the brand will begin cutting jobs at its English manufacturing facilities and some office roles, totalling up to 1,700. Given that the new strategy comes after the company’s November presentation of a 40 million pound savings plan, the continued positivity from Burberry seems to have lifted investor sentiments.

It’s been years since Burberry’s performance began waning, largely due to the flat reaction to its rebranding under Riccardo Tisci in 2018. Following his departure in 2022, Burberry’s brand identity was rehauled yet again in 2023 when Daniel Lee joined, focusing on a heritage-oriented marketing strategy, in place of Tisci’s more contemporary creative direction.

Stay tuned to Hypebeast for the latest fashion industry news.

The post Burberry to Cut 20% of Workforce in Loss Turnaround Plan appeared first on Hypebeast.

Tags: burberry
Share197Tweet123Share
University of Virginia president to resign amid Trump administration DEI probe
News

University of Virginia president to resign amid Trump administration DEI probe

by CBS News
June 27, 2025

On Friday, the fight with U.S. higher education started by America’s 47th president, Donald Trump, landed at the university founded ...

Read more
News

Denmark Seeks to Give People Copyright to Their Own Features in Effort to Combat AI Deepfakes

June 27, 2025
News

Waypoint Weekend Episode 29: We Gacha Check Out These New Games, Don’t We?

June 27, 2025
News

How to raise Porter Grade stats in Death Stranding 2

June 27, 2025
News

New York City Leaders Reach Deal on $115.9 Billion Budget

June 27, 2025
Suzanne Somers’ Widower Dated Two Married Women At Once Before Joanna Cassidy

Suzanne Somers’ Widower Dated Two Married Women At Once Before Joanna Cassidy

June 27, 2025
In closing arguments, Diddy lawyer says Cassie relationship was a ‘great modern love story’

In closing arguments, Diddy lawyer says Cassie relationship was a ‘great modern love story’

June 27, 2025
Henry Golding Expects ‘Crazy Rich Asians’ TV Show To Begin Production Soon

Henry Golding Expects ‘Crazy Rich Asians’ TV Show To Begin Production Soon

June 27, 2025

Copyright © 2025.

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2025.