NEW YORK — Coach Inc. on Tuesday joined the growing list of fashion firms cutting jobs, revealing plans to lay off 10 percent of its U.S. corporate staff.
Responding to speculation in the market, Coach on Tuesday issued a statement to WWD saying, “In light of the uniquely challenging operating environment, we have taken steps to significantly reduce our expense structure. These actions include a 10 percent reduction in U.S. corporate staffing levels, the deferral of substantial investment in technology projects and the elimination of merit-based wage increases, in addition to the previously announced measures of slowing domestic retail store openings and suspending expansion activity in this channel.”
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