Swedish fashion retailer Hennes & Mauritz (H&M) has laid off approximately 60 employees from its production team that handles exports in India.
Due to falling sales as a result of the ongoing pandemic, H&M had earlier announced that it was reviewing business and planning ways to cut cost, including laying off staff across the world.
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Confirming the news on India layoffs, H&M said: “As a result of our restructured organisation within our India sourcing entity, around 60 of our colleagues will not continue their journey with us.
“We will promote networking methods to handle our operations where all the offices are connected to each other for different operations. Despite the geographical location of teams, digitalisation and customer-centric set-ups will enable market growth in the future, as well as secure the best offer for our customers.
“We believe this restructure is necessary to secure speed, agility, and efficiency in our ways of working. Though this may bring some difficult decisions, they are necessary to strengthen our position in the competitive landscape.”
However, in the email, the company said that it does not plan to close down any of its stores.
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By GlobalDataIn October, H&M had revealed plans to reduce its current network by net 250 stores next year.
It currently operates more than 5,000 retail locations across the world.
