HONG KONG - Supply chain management company Li & Fung has embarked on a huge restructuring exercise - expected to lead to the loss of thousands of jobs globally - because of the affects of the coronavirus 19 pandemic.
International media reports have claimed the company is to reduce its workforce of around 22,000 people by as much as 70 per cent - however, the company insists the total will be less than 10 per cent.
A Li & Fung spokeswoman said: "COVID-19 has dramatically impacted the global retail industry and this unprecedented event has affected all our customers, suppliers and also Li & Fung.
