H&M, a Swedish multinational fashion company, has fired 101 employees in its Bangladesh office amid the COVID-19 outbreak.
The fashion retailer, which sources readymade garment products worth more than $3 billion annually from Bangladesh, confirmed that 101 of their employees faced job cut due to structural changes in the company.
Citing an official statement, H&M Bangladesh country manager Ziaur Rahman said that the company was on a transformation journey, responding to a rapid transformation of industry and continuation of meeting customers’ demands.
The transformation has involved removing complexities, overlaps and layers in the organisation that have naturally surfaced with the growth of the company over the years, he said.
‘Though this may bring some difficult decisions, they are necessary to strengthen our position in the competitive landscape,’ the statement said.
Ziaur said that the company adopted the structural changes to be more agile and faster for the new competitive world.
H&M had put a limit on its operations in its Bangladesh Office as a precaution ary measure following the identification of coronavirus-infected people in the country on March 8, 2020.
The fashion brand had informed its Bangladeshi suppliers in a letter that the Bangladesh office of H&M would remain open with limited activities and a lot of staff would work from home.