Hennes & Mauritz to lay off 1,500 workers, book restructuring charge of around $75.6 million
STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer HM.B, +0.49% has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in a … Read more
