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The British leather goods brand is said to be planning to cut 25% of its global workforce, representing about 350 jobs, as part of a cost reduction strategy.
Mulberry, which employs 1,400 people in the UK, is reportedly seeking to make the cuts across its entire business, from head office and retail to manufacturing and distribution. The company has launched a consultation with employees whose jobs are at stake. “Launching a consultation process has been an incredibly difficult decision for us to make but it is necessary for us to respond to these challenging market conditions, protect the maximum number of jobs possible and safeguard the future of the business,” said Thierry Andretta, CEO, Mulberry. “We remain confident in the strength of the Mulberry brand and our strategy over the long term.”
Despite the phased Mulberry stores reopening in China, South Korea, Europe and Canada, the footfall has failed to pick up as social distancing restrictions remain in place. E-commerce sales have not been strong enough to offset the decline in sales. “In spite of the good performance of our sector-leading digital and omni-channel platform, and our global network of digital concessions, the shutting of all our physical stores has had, and will continue to have, a marked effect on our business”, said Andretta.