Try GOLD - Free
Burberry warns 1,700 jobs at risk after reporting annual loss
Bangkok Post
|May 15, 2025
British luxury fashion label Burberry said yesterday it could shed almost one-fifth of its global workforce over two years to reduce costs as it fell into an annual net loss.
The troubled group is undergoing a turnaround plan to help boost sales and cut costs as the global luxury sector struggles with weak consumer demand, notably from China.
Burberry’s net loss stood at £75 million ($100 million) in the 12 months to the end of March, compared to a profit of £270 million one year earlier, Burberry said in a statement.
Revenue slid 17% to £2.46 billion.
Further cost-saving measures were announced yesterday, targeting additional savings of £60 million by 2027, which would impact around 18% of its workforce, or 1,700 people.
“While we are operating against a difficult macroeconomic backdrop and are still in the early stages of our turnaround, I am more optimistic than ever that Burberry’s best days are ahead,” said chief executive Joshua Schulman.
This story is from the May 15, 2025 edition of Bangkok Post.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Bangkok Post
Bangkok Post
Sabalenka and Sinner make strong starts
World No.2 Jannik Sinner overwhelmed Czech qualifier Dalibor Svrcina 6-1, 6-1 on Friday to launch his bid for a first Indian Wells hardcourt crown.
2 mins
March 08, 2026
Bangkok Post
Philippines shifts to 4-day work week as Iran war raises oil prices
Oil-poor Philippines is to shift to a four-day work week with fuel prices set to rocket up amid the Iran war, President Ferdinand Marcos said Friday.
1 mins
March 08, 2026
Bangkok Post
Port power into second place with rout of Warriors
>>Port moved to second place in the Thai League 1 standings after a 3-0 victory over Lamphun Warriors at their PAT Stadium on Friday night.
1 min
March 08, 2026
Bangkok Post
NEVER- ENDING STORY
SINNERS STAR DELROY LINDO ON SPEAKING UP AND THE POWER OF AFFIRMATION
5 mins
March 08, 2026
Bangkok Post
Give BMA cooling centres a chance
The Bangkok Metropolitan Administration's (BMA) initiative providing air-conditioned “cooling centres” may be met with a degree of scepticism but the initiative is an undeniably novel and humane response for a city increasingly pushed to its limits by climate risks — marked by long summers and more frequent extreme heat events.
3 mins
March 08, 2026
Bangkok Post
Peaky Blinders stars hit Brum red carpet for movie premiere
Oscar-winner Cillian Murphy and other stars have descended on Birmingham for the Peaky Blinders movie world premiere, with England's so-called second city in raptures over its signature show getting the Hollywood treatment.
2 mins
March 08, 2026
Bangkok Post
Valverde strikes late as Madrid edge Celta Vigo
Federico Valverde’s heavily deflected 95th-minute drive snatched injury-hit Real Madrid a 2-1 win at Celta Vigo in La Liga on Friday.
2 mins
March 08, 2026
Bangkok Post
Malaysia premier, police chief sued over calling out alleged plot
The family of Malaysia’s influential former finance minister filed a lawsuit on Friday against the prime minister, chief of police and the government to halt what they said were false claims of a plot to overthrow the government allegedly involving his widow and sons.
1 mins
March 08, 2026
Bangkok Post
Pakistani convicted over plot backed by Iran to kill president
A Pakistani man was convicted on Friday of planning to kill US President Donald Trump and other prominent politicians two years ago at the behest of Iran, the Department of Justice (DOJ) said.
1 min
March 08, 2026
Bangkok Post
US 'not concerned' by reports of Russia aiding Iran's targeting
US Defence Secretary Pete Hegseth said Friday that the United States is “not concerned” about reports that Russia is providing intelligence to Iran on US troop positions and movements.
1 min
March 08, 2026
Listen
Translate
Change font size