Burberry to Cut 1,700 Jobs as Luxury Retailer Battles £3 Million Loss

The workforce reduction represents the most visible aspect of a comprehensive turnaround strategy under CEO Joshua Schulman, who took the helm in July 2024. Financial Pressure Forces Strategic Reset Burberry’s financial struggles have been mounting.

Revenue fell sharply in the 12 months to March 29, 2025, creating urgent pressure for restructuring after years of declining performance. The company’s stock had lost 66% of its value since reaching an all-time high in April 2023, signaling deep investor concerns about its direction and market position.

These financial challenges reflect broader headwinds in the luxury sector, where changing consumer preferences and economic uncertainty have disrupted traditional business models. Return to Heritage and British Identity At the core of Burberry’s turnaround plan is a strategic pivot back to its heritage products.

Schulman is implementing a refocus on the brand’s iconic trench coats and scarves after previous leadership pushed into high-fashion territory with elevated pricing. This shift acknowledges a fundamental truth about Burberry’s market position. The brand’s historical strengths and consumer associations center on its British…