VF Cuts 600 Positions
VF Corp. has eliminated 600 positions worldwide as it looks to “to align our people and capabilities with our highest strategic priorities,” VF CEO Steve Rendle told employees in a letter this week.
The Denver Business Journal obtained the letter and posted a story about the layoffs. A VF spokesman confirmed with SES that the details in the story were true.
The cuts include 300 current workers and 300 open positions and are focused on office jobs worldwide, rather than warehouse or retail employees.
“I recognize that the past few years have been intense,” Rendle said in the letter. “And while the environment will likely continue to be marked by volatility, we have strong momentum in the majority of our businesses. At the same time, we’re working to improve those areas of the business that need attention.”
VF, which is headquartered in Denver, is home to many brands including Vans, The North Face, Timberland, Dickies, Supreme, JanSport, Smartwool, Altra, Icebreaker and others.
While The North Face has bounced back and is posting record sales, Vans, which has posted outsized growth for years and is VF’s largest brand, has hit a rough patch of late. New Vans President Kevin Bailey is working to change that.
“Our overriding goal is to drive consistent growth across our full family of brands,” Rendle said according to the Denver Business Journal. “Through clear and focused strategies, the passion and capabilities of our people, and the guidance provided by capable leaders, we will drive growth and chart the next chapter for VF.”
Here at SES, we do not yet know if Vans was impacted by the job cuts.
