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It's not easy. It's also a matter of manufacturers and retailers. That's not necessarily true.

Faced with the rising labor cost, the group is very likely to take a measure to reduce the cost and ensure the profitability of the group.

The measure is pay reduction.

It is reported that the British clothing retailer Next, who announces the upcoming 2016/2017 fiscal year, has not announced its earnings and has issued a notice that its chief executive, Lord Wolfson, will substantially reduce its cash dividends in the last fiscal year by half.

Therefore, he is expected to receive only 503 thousand pounds from the 1 million 100 thousand pound he received in 2014.

As a British apparel retailer who has been more satisfied with investors in the past ten years, Martha's department store has been able to record a higher growth rate than that of the department store.

Faced with the current economic downturn, we can not escape this catastrophe.

The chairman of the group remuneration committee halved the CEO cash dividend, saying that due to the hardship of the financial environment in the 2015 fiscal year and the slowing down of the group's profit growth ability, the dividend reduction was mainly driven by the situation.

In addition, last year, Burberry, whose profitability was also bad, had already passed the way of reducing wages for management to reduce the cost of human resources.

Previously, in the annual report at the end of March, the group has also disclosed the continued slowdown of the group's profitability. Therefore, the group still has a long way to live, and the group has passed the pay cut to get the company through.

Cold winter is also justifiable.

And compared with CEO, who has unfortunately stepped down as a result of performance and profitability problems, Next group's CEO is only lucky to get a pay cut.