Essence Magazine:
By Jasmine Browley· Updated December 16, 2022
It has been reported that Swedish fashion brand H&M recently became the first big European retailer to lay plan to deploy layoffs staff in response to the rising living costs.
It’s reportedly an attempt to reduce mainly back-office staffing costs as Europeaninflation rates continue to soar. The layoffs are a part of a plan to save 2 billion Swedish crowns per year.
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