Analysis
Do staff cuts really help in a recession?
After Zalando reported a 58% profit drop during Q2, the fashion retailer plans to cut its marketing budget moving forward in order to maintain its staff count despite other major companies jumping to redundancies to reduce costs
The European fashion retailer, Zalando, has predicted a return to growth of up to 3% in H2 despite a 58% profit drop during Q2, which reportedly brought the company’s operating profit down to £64.7m from £153.3m in the same period last year.
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