Burberry plans to lay off 1,700 staff by 2027, following significant financial losses, as part of a cost-cutting plan

Luxury brand Burberry has announced it will cut its global workforce by almost 20% as part of a cost-saving plan after reporting losses of 66 million pounds. The layoffs, which will mainly affect UK office teams, will also include redundancies at the Castleford factory. Chief executive Joshua Schulman emphasized that the measures are designed to protect UK production and that investment will be made in refurbishing the factory. Burberry is targeting annual savings of 100 million pounds by 2027.