Chanel Cuts 70 US Jobs Warning of Challenging Luxury Environment
- Move represents about 2.5% of Chanel’s headcount in the US
- Comes as wider luxury industry faces downturn in demand
Chanel Inc. is cutting 70 roles in the US as the luxury fashion and beauty label warned it faces a more difficult economic environment.
The decision to reduce headcount follows previous moves to limit spending and will help Chanel “better adapt to the current economic challenges,” it said in a statement Wednesday. The 70 jobs represent about 2.5% of its US workforce.