http://www.usatoday.com/story/money/2016/04/26/coach-beats-estimates-announces-job-cuts/83536898/
Luxury retailer Coach said Tuesday it will cut more than 300 jobs, or
2% of its global workforce, as part of efforts to boost efficiency.
The
company said it expects to incur pretax charges of $65 million to $80
million in the current quarter as part of the cost-cutting, which is
designed to achieve its goal of a 20% operating margin in fiscal 2017.
Coach officials did not specify how many of the layoffs will be in the
U.S., or when they will occur. But they said the move will trim 10% of
the corporate staff and will not affect workers in stores or factories.
“These
actions will allow us to emerge as a brand-led company with fewer
layers, larger spans of responsibility in a consistent global voice
across merchandising and marketing,” CEO Victor Luis said in a news
release.
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