Layoffs are often a product of corporate mergers as the combined company seeks to streamline and eliminate duplication. PVH said some of the jobs lost would be moved to other offices.
The job cuts began March 11, when PVH told workers that Warnaco’s Florence, Italy, office would be closed this year and that most employees there would not be offered jobs elsewhere.
The company also said Warnaco’s facilities in Duncansville and Huntingdon, Pa., would be closed. And workers in New York City; Milford, Conn.; Hong Kong and elsewhere were given notice.
“The company expects to undertake additional actions, including additional headcount reductions and the possibility of additional facility closings, in the United States and abroad,” the company said in a filing with the Securities and Exchange Commission Friday. “The employment termination effective dates will commence March 15, 2013 and are expected to continue through February 13, 2015, with most terminations to become effective during the second half of 2013 and the first quarter of 2014.”
PVH said the streamlining effort would initially cost about $175 million over three years.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)