H&M to move South-east Asia hub to Kuala Lumpur, announces layoffs for 30pc of regional support headcount
SINGAPORE, May 13 -- H&M has announced a major restructuring of its Asia-Pacific operations, relocating its South-east Asia regional headquarters from Singapore to Kuala Lumpur and eliminating approximately 30 per cent of its regional support workforce.
The changes, formally communicated to staff on May 11 will see the majority of redundancies take place in the Singapore office. Out of a regional headcount of 256 for the former East Asia region, 78 positions will be removed.
The restructuring is part of a broader evolution of H&M's commercial operating model, which replaces existing regional layers with four new continents. Under the new structure, the newly formed Continent Asia Pacific (APAC) will be based in Shanghai and will oversee...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.