News English — Cost Cutting

(Image source: Burberry Plc) The British luxury brand has seen its fortunes reverse since Angela Ahrendts left the company to join Apple. Burberry plans to cut costs by £100m (approx $150m) by 2019. However, since the appointment of Christopher Bailey to the dual role of Chief Executive Officer and Chief Creative Officer the company has not only dropped revenues but has also seen significant cost control measures introduced. Mr Bailey is rapidly losing faith among investors, but has backing from the board, and an additional leader is being sought to work in tandem with Christopher as his duties are thought...