British luxury brand Mulberry said on Monday it plans to cut 25% of its global workforce of about 1,500, seeking to reduce its cost base after demand was hit by the coronavirus pandemic.
FILE PHOTO: A company logo is pictured outside a Mulberry store in Vienna, Austria, May 4, 2016. REUTERS/Leonhard Foeger
Mulberry, best known for its leather bags, said given the uncertainty over the impact and duration of COVID-19 on its business and the wider economy, it expected the recovery in sales levels over the medium term to be gradual. “Launching a consultation process has been an incredibly difficult decision for us to make but it is necessary for us to respond to these challenging market conditions, protect the maximum number of jobs possible and safeguard the future of the business,” said Chief Executive Thierry Andretta.
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