Swedish Retail Giant H&M Cuts 20% Of Jobs From COS Brand HQ

The world’s second biggest fashion group Hennes & Mauritz (H&M) is to cut up to 20% of head office staff from its COS brand, MarketWatch has learned. On Monday the Swedish fashion giant held a meeting informing staff based at the brand’s head office in London that there would be some “big changes,” according to one source. A day later H&M outlined a new structure and informed workers, including designers and pattern cutters, which roles would be affected. They were told the company needed “an even more agile, fast-paced and efficient organization” able to adapt to changing customer habits and the shift to online sales. Read more at MarketWatch.