💨 Abstract

Burberry is cutting 1,700 jobs, a fifth of its workforce, as part of a cost-reduction strategy to tackle losses and declining sales. CEO Joshua Schulman aims to focus on "timeless British luxury" and make the brand more affordable. Despite sales drops in key markets like China, the US, and Europe, the brand's shares rose due to investor confidence in the cost-cutting measures.

Courtesy: www.thesun.co.uk