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h m said Wednesday it would cut 1500 jobs the Swedish company wants to reduce costs due to weakening demand from consumers Rising inflation and the cost of living crisis are squeezing household budgets in September h m launched a plan to save about 190 million dollars per year that month it reported lower than expected quarterly sales up only three percent from a year before at 5.4 billion dollars the number was below analyst forecasts an underperformed market leader inditex which owns Zara h m also said Wednesday a restructuring charge of almost 76 million dollars would be booked in the fourth quarter the worlds number two fashion retailer employs roughly 155 000 people its shares were up over half a percent in early trade on Wednesday in line with the broader Market