Restructuring charge for global cost and efficiency programme
As communicated previously, the H&M group has initiated a global programme to reduce costs and further improve efficiency in the business. The programme relates to administrative and overhead costs, and also entails reducing the workforce by around 1,500 positions. Overall, it is estimated that this will provide annual savings of around SEK 2 billion which are expected to become visible in the second half of 2023. The programme is expected to result in a restructuring charge of just over SEK 800 million in the fourth quarter of 2022. “The cost and efficiency programme that we have