The British luxury handbag maker Mulberry has also warned about job losses this morning. It intends to slash 25% of its global workforce and has kicked off a consultation process.
Up to 470 jobs could be at risk across the organisation, from head office to manufacturing, retail, distribution and support. It currently employs 1,390 people worldwide, including 1,140 in the UK.
The company says: “Given the uncertainty as to the impact and duration of Covid-19 on the company and the wider economy, and the consequential effect on demand, we expect the recovery in our overall sales levels over the medium term to be gradual.”