A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images Macy’s announced Thursday it is cutting 3,900 corporate jobs — 3% of its total workforce — to reduce costs as it struggles with the effects of
The owner of Very and Littlewoods, formerly known as Shop Direct, said the restructuring would help to future-proof the business. Chief executive Henry Birch explained: “As we look to the future, we need the right team structures, working practices and environments to enable us to meet the opportunities and tackle the challenges that lie ahead.
Citing the “acute shock” to its business resulting from COVID-19, Under Armour outlined a series of cost-cutting measures as the financial toll of the pandemic rises. In separate news, the athletic apparel brand detailed a previously (pre-pandemic) planned restructuring initiative that is designed to reduce costs and improve future profitability and cash flow generation. It
Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Bed Bath & Beyond is cutting about 500 jobs, or 10% of its corporate workforce, as part of a larger restructuring plan in a bid to trim expenses, the retailer announced Thursday. The company said it is
Shoppers enter a Kohl’s store in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Kohl’s is laying off 250 people as it restructures parts of its business following a dismal holiday season. The changes will help Kohl’s streamline communications and eliminate the overlap of management positions, Kohl’s SVP of Communications, Jen Johnson, said in
Pizza Express appears destined for a debt restructuring that could bruise its lenders, as sources with knowledge of the situation played down concerns it was in serious financial difficulty. The pizza chain is reportedly in early talks to refinance two tranches of borrowing worth a combined £665m, part of a debt pile that had reached