News First | Europe

Burberry to cut 20% of global workforce, shares jump

14 May 2025, 12:22 pm

1 min read

FILE PHOTO: Models present creations at the Burberry catwalk show during London Fashion Week in London, Britain, February 24, 2025. REUTERS/Isabel Infantes/File Photo

Reuters was more than three-and-a-half minutes ahead of competition when British luxury brand Burberry said it would shed 1,700 jobs or around a fifth of its global workforce to cut costs. The company’s shares surged 18% after UK markets opened.