Mass Layoff in Fashion Retailer H&M – Over 1,500 Jobs to Cut Off!! The economic crises and inflation among the world countries have also affected industrial and Tech companies. To overcome this problem, many e-commerce and technology companies are taking measures to reduce costs. So many companies are laid off thousands of employees as part of these measures.
In particular, Twitter and Meta, the world’s leading social media company, have laid off thousands of employees. Accordingly, the number of layoffs carried out so far in the current financial year alone has exceeded 40 thousand. Continuing this, Swedish fashion retailer H&M has announced that it is laying off around 1,500 jobs.
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Chief Executive Helena Helmersson said the layoffs are being made considering the company’s cost and efficiency plans. At the same time as layoffs are made, the company is engaged in loss-making operations.
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