Clarks Shoes to Cut 900 Office Jobs; Covid Strains Cash Flow
- U.K. retailer expects net loss of 700 positions over 18 months
- Hires advisers including Deloitte to review funding options
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The U.K. seller of Clarks shoes plans to cut 900 office jobs worldwide as part of a wider turnaround strategy, while store closures due to the pandemic put a strain on short-term cash flow.