OSLO, Nov 30 (Reuters) – Swedish style seller H&M (HMb.ST) will certainly reduce some 1,500 tasks as component of its price reducing drive and also publication a restructuring fee of 800 million Swedish crowns ($75.80 million) in the 4th quarter, it claimed on Wednesday.
In September, H&M, the globe’s No. 2 style seller, introduced a plan to save 2 billion Swedish crowns annually.
“The price and also performance program that we have actually started includes assessing our organisation and also we are really conscious of the reality that associates will certainly be impacted by this,” President Helena Helmersson claimed in a declaration.
“We will certainly sustain our associates in discovering the very best feasible remedy for their following action,” she included.
($1 = 10.5546 Swedish crowns)
Coverage by Terje Solsvik, editing and enhancing by Stine Jacobsen and also Louise Heavens
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