Burberry, the new CEO, Joshua Schulman, paid about 2.6 million pounds in his first nine months in the job, including 380,000 pounds in the costs of transporting the house, as the British brand sick announced hundreds of job discounts.
The company also granted its former president, Jonathan Acureid, a return of about 1.5 million pounds – a year -for -year notice, including salaries, pensions, and cash benefits – after leaving the company in July last year, according to the group’s annual report. Former Versace President Leave less than three years After it It was appointed in 2021.
This year, Shuelman can earn up to 5.6 million pounds if it meets additional goals, except for a possible reward of 3.6 million pounds if it doubles the price of a barbarian share in three years with the aim of re -inserting the FTSE 100.
It is also in line with 25,000 pounds per month per month in “housing allowance” for more than a year above more than 135171 pounds to help him find a new house, 120,655 pounds sterling towards the transfer of its effects from New York, where he lived previously, and five months of housing allowance had already paid.
In his first nine months, Schulman got a bonus of 1.2 million pounds above 1.356 million pounds in a fixed salary, which included mobile allowances.
The hook payments for senior managers come although Burberry reveals plans to reduce 1700 jobs all over the world by 2027 – including the removal of the entire night offense of 170 people Yorkshire Rain coat Factory – try to process sliding profits.
The company revealed the plan earlier this month when it revealed that it covered an annual loss of 66 million pounds, from a profit of 383 million pounds per year, as it fought in the manufacture of rejected global luxury goods after a series of strategic errors.
Shuelman, former head of the American fashion brand coach, was appointed last year in an attempt to turn into the wealth of Berber. The group share price has increased by almost 50 % since it was appointed despite the effects of the impact of Donald Trump’s plans to obtain import tariffs and influence spending on American and Chinese consumers.
Shulemann announced this month a plan to reduce about a fifth of the global workforce in Burberry to bring 60 million pounds in additional cost savings in addition to a The savings program is 40 million pounds It was announced in November.
The annual report shows that Berber is already reduces its working power, as the number of employees has decreased by more than 870 to 8459 years on an annual basis.
Burberry managers said in the report that they consulted the shareholders about the level of Shuleman’s salaries.
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“The majority of the shareholders estimated the conditions of Josh’s employment and they were supporting the design of Josh’s continuous arrangements, which is the annual reward approach to [the last year] And the recruitment award.
They said that the managers were “familiar with the comments he received from some of our shareholders during the consultation and took this into consideration when determining the final level of the reward batches.”
“Given the financial conflicts of Berber, it is not surprising that they take measures to reduce costs,” said Andrew Speak, from the second large -scale center.
“But to reduce thousands of jobs while continuing to pay exorbitant amounts to executives, it is morally doubtful and it seems that it is a major strategic mistake.
“This will lead to great damage to the workforce’s morale and reflects another major company that seems to believe that the success of business comes from paying a person at the highest money rather than investing more complicated in the wider manpower.”
