Burberry to cut 1,700 jobs

Burberry has announced plans to cut up to 1,700 jobs worldwide, around 20% of its global workforce, as it looks to reduce staff costs and return to profit.

The company said the cuts will mainly affect head office staff, with a significant number of roles to go in the UK, including jobs at its Castleford factory in West Yorkshire.

Burberry is aiming for £100m in annual savings by the 2027 financial year, with £60m of additional savings added to its previous £40m cost-cutting programme.

Joshua Schulman, chief executive at Burberry, said most of the reductions would come from head office-based teams, mainly in the UK.

Burberry said these changes are part of a wider two-year programme to cut costs, with some shop staff also affected to “align schedules with peak store traffic”.

The company’s UK roles will be reduced by around 25%.