© Reuters. FILE PHOTO: The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar/File Photo

OSLO (Reuters) – Swedish fashion retailer H&M will cut some 1,500 jobs as part of its cost cutting drive and book a restructuring charge of 800 million Swedish crowns ($75.80 million) in the fourth quarter, it said on Wednesday.

In September, H&M, the world’s No. 2 fashion retailer, launched a plan to save 2 billion Swedish crowns per year.

($1 = 10.5546 Swedish crowns)

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