Zalando to cut 350 million euros in costs

BERLIN (Reuters) - Zalando is cutting 350 million euros ($380 million) of costs to help it get through the new coronavirus crisis without needing layoffs, the German online fashion retailer said on Thursday.A spokeswoman confirmed the figure for cuts that was first reported by Business Insider magazine. Zalando said last week it was trimming spending and investment as coronavirus lockdowns hit its sales and profitability, while it would speed up an initiative to help currently closed stores to..