H&M slashing workforce to cut costs

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December 6, 2022

Fashion retailer H&M plans to eliminate 1,500 job, across its global workforce in an effort to trim costs and boost efficiency.

The move should save the Sweden-based company $190 million, according to an AP report.

The news comes on the heels of major tech companies, including Meta, announcing big layoffs just weeks ahead of the holiday season.

"We will support our colleagues in finding the best possible solution for their next step," CEO Helena Helmersson told the AP.