{"id":220972,"date":"2022-11-30T09:00:40","date_gmt":"2022-11-30T09:00:40","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=220972"},"modified":"2022-12-15T09:33:31","modified_gmt":"2022-12-15T09:33:31","slug":"hm-to-cut-1500-jobs","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/","title":{"rendered":"H&M to cut 1,500 jobs to reduce costs"},"content":{"rendered":"

H&M<\/a> <\/span>has initiated its Restructuring Global Cost and Efficiency Programme to reduce costs.<\/strong><\/p>\n

The programme has been actioned to \u2018reduce costs and further improve efficiency in the business'. The programme relates to administrative and overhead costs and includes reducing staff by approximately 1,500.<\/p>\n

It is estimated that this will provide annual savings of around \u00a3158.3 million (SEK 2 billion), which are expected to become visible in the second half of 2023. The programme will result in an expected restructuring charge of just over \u00a363.3 million (SEK 800 million) in Q4 2022.<\/p>\n

Helena Helmersson, CEO of H&M, commented: \u201cThe cost and efficiency programme that we have initiated involves reviewing our organisation and we are very mindful of the fact that colleagues will be affected by this. We will support our colleagues in finding the best possible solution for their next step.\u201d<\/p>\n

This news follows the company's revamp of its Regent Street<\/a> <\/span>and Merry Hill shopping centre<\/a><\/span> stores in an effort\u00a0to deliver an \"enhanced retail experience\" for consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"

[…]<\/p>\n","protected":false},"author":114,"featured_media":200162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[20821,6,10494],"tags":[11222,3956,20354],"acf":[],"yoast_head":"\nH&M to cut 1,500 jobs to reduce costs - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"H&M has initiated\u00a0the Restructuring Global Cost and Efficiency Programme\u00a0to reduce costs, which entails reducing the workforce.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"H&M to cut 1,500 jobs to reduce costs - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"H&M has initiated\u00a0the Restructuring Global Cost and Efficiency Programme\u00a0to reduce costs, which entails reducing the workforce.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-30T09:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-15T09:33:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/03\/HM-2-scaled-e1647258405984.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Chloe Burney\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chloe Burney\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\"},\"author\":{\"name\":\"Chloe Burney\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/04c8820fce3db93175092637b1978f3b\"},\"headline\":\"H&M to cut 1,500 jobs to reduce costs\",\"datePublished\":\"2022-11-30T09:00:40+00:00\",\"dateModified\":\"2022-12-15T09:33:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\"},\"wordCount\":172,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Finance\",\"H&M\",\"Job Cuts\"],\"articleSection\":{\"1\":\"Logistics\",\"2\":\"News & Insight\",\"3\":\"Retail & Etail\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\",\"url\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\",\"name\":\"H&M to cut 1,500 jobs to reduce costs - TheIndustry.fashion\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#website\"},\"datePublished\":\"2022-11-30T09:00:40+00:00\",\"dateModified\":\"2022-12-15T09:33:31+00:00\",\"description\":\"H&M has initiated\u00a0the Restructuring Global Cost and Efficiency Programme\u00a0to reduce costs, which entails reducing the workforce.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.theindustry.fashion\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"H&M to cut 1,500 jobs to reduce costs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.theindustry.fashion\/#website\",\"url\":\"https:\/\/www.theindustry.fashion\/\",\"name\":\"TheIndustry.fashion\",\"description\":\"Fashion news, insights, podcasts and events for professionals from across the fashion sector.\",\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.theindustry.fashion\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\",\"name\":\"TheIndustry.fashion\",\"url\":\"https:\/\/www.theindustry.fashion\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png\",\"contentUrl\":\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png\",\"width\":585,\"height\":217,\"caption\":\"TheIndustry.fashion\"},\"image\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/theindustryfashion\/\",\"https:\/\/twitter.com\/theindustryfash\",\"https:\/\/www.instagram.com\/theindustryfashion\/\",\"https:\/\/www.linkedin.com\/company\/10970016\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/04c8820fce3db93175092637b1978f3b\",\"name\":\"Chloe Burney\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/18e466bf78c8f00aefdec55c85adf64c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/18e466bf78c8f00aefdec55c85adf64c?s=96&d=mm&r=g\",\"caption\":\"Chloe Burney\"},\"description\":\"News & Features Writer\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"H&M to cut 1,500 jobs to reduce costs - TheIndustry.fashion","description":"H&M has initiated\u00a0the Restructuring Global Cost and Efficiency Programme\u00a0to reduce costs, which entails reducing the workforce.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/","og_locale":"en_GB","og_type":"article","og_title":"H&M to cut 1,500 jobs to reduce costs - TheIndustry.fashion","og_description":"H&M has initiated\u00a0the Restructuring Global Cost and Efficiency Programme\u00a0to reduce costs, which entails reducing the workforce.","og_url":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/","og_site_name":"TheIndustry.fashion","article_publisher":"https:\/\/www.facebook.com\/theindustryfashion\/","article_published_time":"2022-11-30T09:00:40+00:00","article_modified_time":"2022-12-15T09:33:31+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/03\/HM-2-scaled-e1647258405984.jpg","type":"image\/jpeg"}],"author":"Chloe Burney","twitter_card":"summary_large_image","twitter_creator":"@theindustryfash","twitter_site":"@theindustryfash","twitter_misc":{"Written by":"Chloe Burney","Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#article","isPartOf":{"@id":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/"},"author":{"name":"Chloe Burney","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/04c8820fce3db93175092637b1978f3b"},"headline":"H&M to cut 1,500 jobs to reduce costs","datePublished":"2022-11-30T09:00:40+00:00","dateModified":"2022-12-15T09:33:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/"},"wordCount":172,"commentCount":0,"publisher":{"@id":"https:\/\/www.theindustry.fashion\/#organization"},"keywords":["Finance","H&M","Job Cuts"],"articleSection":{"1":"Logistics","2":"News & Insight","3":"Retail & Etail"},"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#respond"]}],"copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/www.theindustry.fashion\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/","url":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/","name":"H&M to cut 1,500 jobs to reduce costs - TheIndustry.fashion","isPartOf":{"@id":"https:\/\/www.theindustry.fashion\/#website"},"datePublished":"2022-11-30T09:00:40+00:00","dateModified":"2022-12-15T09:33:31+00:00","description":"H&M has initiated\u00a0the Restructuring Global Cost and Efficiency Programme\u00a0to reduce costs, which entails reducing the workforce.","breadcrumb":{"@id":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.theindustry.fashion\/hm-to-cut-1500-jobs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.theindustry.fashion\/"},{"@type":"ListItem","position":2,"name":"H&M to cut 1,500 jobs to reduce costs"}]},{"@type":"WebSite","@id":"https:\/\/www.theindustry.fashion\/#website","url":"https:\/\/www.theindustry.fashion\/","name":"TheIndustry.fashion","description":"Fashion news, insights, podcasts and events for professionals from across the fashion sector.","publisher":{"@id":"https:\/\/www.theindustry.fashion\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.theindustry.fashion\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.theindustry.fashion\/#organization","name":"TheIndustry.fashion","url":"https:\/\/www.theindustry.fashion\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/","url":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png","contentUrl":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png","width":585,"height":217,"caption":"TheIndustry.fashion"},"image":{"@id":"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/theindustryfashion\/","https:\/\/twitter.com\/theindustryfash","https:\/\/www.instagram.com\/theindustryfashion\/","https:\/\/www.linkedin.com\/company\/10970016\/"]},{"@type":"Person","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/04c8820fce3db93175092637b1978f3b","name":"Chloe Burney","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/18e466bf78c8f00aefdec55c85adf64c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/18e466bf78c8f00aefdec55c85adf64c?s=96&d=mm&r=g","caption":"Chloe Burney"},"description":"News & Features Writer"}]}},"_links":{"self":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/220972"}],"collection":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/comments?post=220972"}],"version-history":[{"count":8,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/220972\/revisions"}],"predecessor-version":[{"id":222112,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/220972\/revisions\/222112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/media\/200162"}],"wp:attachment":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/media?parent=220972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/categories?post=220972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/tags?post=220972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}