Zalando to cut 350 million euros in costs-report
Reuters
Published Apr 09, 2020 13:24
BERLIN (Reuters) - German online fashion retailer Zalando (DE:ZALG) is cutting 350 million euros ($380.24 million) of costs to help it get through the new coronavirus crisis without needing layoffs, the Business Insider magazine reported on Thursday.
Business Insider cited a Zalando spokeswoman as saying the company was making cuts in marketing, logistics and general costs, as well as scaling back investments.
Zalando was not immediately available to comment.
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Written By: Reuters
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