Hr Library

H&M to shut a quarter of Spanish stores, lay off 588 workers, HR News, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>The company has 91 stores and employs almost 4,000 people in Spain, according to H&M's annual report. The retailer confirmed in a statement sent to Reuters it intends to close 28 stores</p>
The company has 91 stores and employs almost 4,000 people in Spain, according to H&M’s annual report. The retailer confirmed in a statement sent to Reuters it intends to close 28 stores

MADRID: Swedish fashion retailer H&M announced on Friday a plan to close down more than a quarter of its stores and lay off as many as 588 workers in Spain, home of its bigger rival, Zara owner Inditex, local unions said.

The company will carry out the layoffs for unspecified organizational, productive and economic reasons, unions CCOO and UGT said in a joint statement.

The company has 91 stores and employs almost 4,000 people in Spain, according to H&M’s annual report. The retailer confirmed in a statement sent to Reuters it intends to close 28 stores.

H&M said that having stores at the right locations and staying competitive was a priority, and that it was “consistently” evaluating its store portfolio.

“This involves … enhancing the shopping experience in our existing stores, actively seeking out new opportunities and making informed decisions about closing stores when necessary,” it said, without providing further details on why it decided to close the stores.

The move is in keeping with other big fashion retailers around the world that have closed smaller stores in recent years while expanding flagship branches that draw more traffic and can double as e-commerce logistics centres.

H&M in Spain has also faced problems with absenteeism…


Click Here to Read more /Source link

Show More
Back to top button