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Date Published: 07/04/2021
ARCHIVED - H&M Spain to close 30 shops and make 1,100 workers redundant
The brand has announced considerable changes to its operations in Spain and other parts of the world.
H&M will be making substantial changes to work conditions and laying off up to 1,100 members of staff, as well as closing 30 shops in Spain, the retail giant has announced.
At a global level, 100 new shops will be opened and 350 closed in 2021, while in Spain the brand has said that 27 H&M and three COS shops will be closing down gradually over the year.
The retail sector, the brand explained, is undergoing great changes as a result of digitalization, changes in consumer habits and the constant growth of online sales. The company is therefore undergoing a global transformation and reorganization process which aims to adapt operations and structures to make them more efficient and meet customer requirements.
The changes, H&M explained in a statement, are a crucial step to ensure the long-term sustainability of the business.
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