Layoffs spill over into fashion industry, H&M to fire 1500 workers for cutting costs amidst inflation
Shortpedia
Content Team
Image Credit: wwd
To save costs and make up for a dent in its profits for the July-September quarter, H&M plans to fire 1500 employees. The move has been announced as consumer spending has slowed down because of cost of living rising across the globe. The Sweden-based brand with more than 50 outlets across India, has a workforce of 155,000 people, which means that the layoff will affect 0.01 per cent of its staff.
