The Strategist

Ralph Lauren to cut staff by 15% by next summer


09/23/2020 - 03:41



The company Ralph Lauren Corporation intends to reduce costs by 180-200 million dollars by reducing the number of full-time employees by the summer by 15%, follows from the release of the company and the representative's comment.



Mike Mozart
Mike Mozart
"Ralph Lauren is announcing plans to downsize its staff by the end of fiscal 2021 (ending May 2021), which will result in cost savings of approximately $ 180-200 million," Ralph Lauren said. At the same time, a representative of the company in New York told the Wall Street Journal that the reduction will affect 15% of employees.

In addition, the company intends to implement new technology platforms, including cloud-based planning personnel management systems, as well as improving the quality of customer service by digitizing value chains.

Ralph Lauren Corporation is an American premium apparel and accessories company founded in 1967. She owns brands such as Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL and others.

source: wsj.com




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