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


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

0 0 votes
Article Rating

Turkey hikes interest rate again to 45% after inflation nears 65%

Previous article

LVMH shares jump 12% as earnings point to luxury sector resilience

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Earnings