The American VF group continues its reorganization. The company, owner of brands such as The North Face or Vans, plans to launch a new batch of layoffs after those carried out in recent months, according to Footwear News.
The new batch of layoffs adds to those executed in recent months, which have impacted approximately 400 employees worldwide. This personnel cut seeks to reorganize commercial functions and align the structure with the new strategy, with greater weight of D2C and a reduction in the commitment to the wholesale.
The group, which until now had not confirmed the number of employees affected by layoffs, closed last November to one of its distribution centers in the United States, regardless of 242 employees. Previously, at the end of 2023, the company completed the 500 job cut, which joined another 600 carried out in 2022.
VF seeks to reorganize commercial functions and align the structure with the new strategy
Waiting for VF to announce the results of 2024, The American company, which last year completed the sale of Supreme, ended the first nine months of the year (period ended on December 28) shrinking its sales slightlybut coming out of losses.
Specifically, the company closed the period with a business figure of 2,833 million dollars, which represented a 2% drop compared to the same period of 2023. On the other hand, the company left losses and recorded a benefit of 167.8 million dollars.
By brands, the group continues to generate the bulk of its sales through The North Face, up to 1,253 million dollars, a brand that scored a 5% growth in the first nine months of the year. Vans, another of the company’s engines, reduced its sales by 9%.
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