Earnings

Levi Strauss plans to cut at least 10% of corporate workforce

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Jeans are displayed at a Levi Strauss store in New York, March 19, 2019.

Shannon Stapleton | Reuters

Levi Strauss will lay off at least 10% of its global corporate workforce as part of a restructuring, the apparel retailer said Thursday as it said it expected weaker sales this year.

The job cuts will take place in the first half of the year, and could affect up to 15% of corporate employees, Levi’s said. The company had more than 19,000 employees as of November, but it is unclear how much of that workforce is in corporate offices.

The cuts come amid a wave of early-year layoffs within the retail industry and across a range of public companies. Macy’s and Wayfair both announced job cuts this…



Source cnbc.com

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