Less than two weeks after taking its business private, Hong Kong based sourcing giant Li & Fung is restructuring in a move that will potentially see the loss of more than 150 jobs.
The company, which has been buffeted by the US-China trade war and customer bankruptcies, says the global coronavirus pandemic has been the final straw.
“Covid-19 has dramatically impacted the global retail industry and this unprecedented event has affected all our customers, suppliers and also Li & Fung,” it said in a statement shared with just-style.
“As a result, we have been forced to restructure and adjust our teams globally due to the changes in our customers’ business. Unfortunately, this includes some redundancies of Li & Fung staff. These difficult …
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