H&M to cut 1,500 jobs globally as cost-of-living pressures bite

Fashion retailer H&M is to axe 1,500 jobs as part of a global restructuring programme (Mike Egerton/PA)

Fashion giant H&M has revealed plans to cut 1,500 jobs across its stores worldwide as the soaring cost of living bites for customers.

The Sweden-based company said the move is part of a “global programme to reduce costs and further improve efficiency in the business”.