Burberry has announced plans to cut a potential 1,700 jobs worldwide as part of efforts to slash staff costs and return the luxury fashion brand to a profit. The company said it was hiking its cost-cutting target to £100 million of savings per year by the 2027 financial year. The British brand revealed it had tipped into a loss of £3 million in the year to March 29, swinging from a profit of £418 million the previous year. #burberry
