UK luxury brand Mulberry to cut 25% of workforce

LONDON (Reuters) – British luxury brand Mulberry plans to cut its global workforce by about 25% as it seeks to reduce its cost base with demand hit by the coronavirus pandemic.

Mulberry said that given the uncertainty as to the impact and duration of COVID-19 on its business and the wider economy, and the consequential effect on demand, it expected the recovery in sales levels over the medium term to be gradual.

(Reporting by James Davey; editing by Sarah Young)