UK’s Harrods to slash nearly 700 jobs
LONDON (UK) – Britain’s luxury department store Harrods announced on Wednesday it would slash up to 672 jobs because of the coronavirus crisis. The spread of the pandemic kept its flagship branch in central London closed for nearly three months.
Owned by Qatar Investment Authority (QIA), Harrods told its employees that it needed to cut up to 14% of its 4,800-strong workforce.
For the store’s business to recover, a drastic improvement in external conditions is essential, said its Chief Executive Michael Ward.
“The necessary social distancing requirements to protect employees and customers is having a huge impact on our ability to trade, while the devastation in international travel has meant we have lost key customers coming to our store,” said Ward.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field