Monday, November 21, 2022

Job Opportunities at Zara, By Far and Dr. Barbara Sturm

Fashion's hiring priorities in a challenging economy.
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In this week's Careers Newsletter, BoF's Workplace and Talent Correspondent Sheena Butler-Young offers Advice From Fashion CEOs on Leading in a Recession.

As the pandemic moves into the rearview and the reality of high inflation and a possible recession comes into focus, fashion leaders are charting their next steps. They are weighing how to keep workers happy amid a lingering labour shortage, even though resources are getting tighter and layoffs are on the agenda again at many firms.

Some layoffs are unavoidable when the economy is in peril and nixing job openings is often the first step for most companies. But, with the labour shortage top of mind, many employers are hoping to make layoffs a last resort and will think twice before cutting jobs (like store roles) that may have been first to go in past recessions. (As of September, there were 1.9 job openings to available worker in the US, per the Bureau of Labour Statistics, and store roles remain among the hardest to fill.)

In anticipation of a challenging holiday season, where inflation is expected to drag down consumer spending, brands are prioritising investments in core capabilities such as supply chain, finance and e-commerce and store sales.

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