Luxury fashion brand Burberry plans 400 UK job cuts amidst stock market value drop.

Luxury fashion brand Burberry is planning job cuts in the UK as its stock market value drops, impacting around 400 employees. The company began a 45-day consultation process and union officials are coordinating redundancy settlements for selected employees. This follows a previous 2020 decision to cut 500 jobs while saving £55 million during pandemic-related pressures.