Victoria Beckham has reportedly been left "devastated" after being forced to axe 20 of her 120 staff at her high-end fashion label.

The 46-year-old launched her eponymous label in 2008 and despite getting endorsements from the likes of Kim Kardashian and Meghan Markle the company has recorded financial losses in every year of its operation.

According to The Sun, Beckham has now been forced to start consulting on staff redundancies after the business was hit hard by the coronavirus crisis.

"Victoria is devastated," a source told the newspaper. "These are really tough times and no-one is exempt from the pandemic's clutches.

"This business is her pride and joy. It has never been about money. She hasn't even paid herself for the past three years.

"She is doing all she can simply to keep as many people in work as possible."

A spokeswoman for the label confirmed: "We have built a new strategic vision to streamline and future-proof the brand and, sadly, have to make redundancies to deliver this."

The Beckhams are thought to have a net worth of around £770 million.