H&M to lay off 1,500 staff in drive to cut soaring costs and rescue profits(reuters.com)

2 pointsby mmsa4 yıl önce3 comments

H&M to lay off 1,500 staff in drive to cut soaring costs and rescue profits

https://www.reuters.com/business/retail-consumer/retailer-hm-cut-1500-jobs-2022-11-30/

3 comments

workathm4 yıl önce

I work at H&M, and there is more to it than this announcement. This is the "outside Sweden" cut.

At the head office, where the main IT is, the cut is 2000 people, and only 1500 will be kept, between employees and consultants.

elischleifer4 yıl önce

I think the articles related to staff cuts should often call out what the company size was 12/24 months prior. It's never good for folks to lose their jobs, but companies, especially tech focused ones - grew unbounded during the last couple years.

sossunday4 yıl önce

H&M has 155,000 people, and the layoffs are primarily back-office staff. As unfortunate as it is, laying off 0.1% of a company of that scale (perhaps not in one go) has to be somewhat of a standard practice?