Burberry Announces Up to 1,700 Job Cuts Amid Turnaround Strategy

Burberry, the British luxury fashion brand, has announced plans to cut up to 1,700 jobs as part of its turnaround strategy. The company aims to unlock £100 million in savings over the next two years, an increase from the previously announced £40 million. This decision follows a challenging year where Burberry reported a significant drop in adjusted operating profit, plummeting 94% to £26 million.