Burberry (BRBY.L) shares surged 18 per cent on Wednesday after the British luxury brand announced plans to shed 1,700 jobs or around a fifth of its global workforce to cut costs to help revive its performance.
Burberry is in the early stages of a turnaround effort led by CEO Joshua Schulman, who is seeking to reverse the group’s years of underperformance versus luxury rivals.
The job cuts over the next
