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PVH says expects to cut 900-1000 jobs
March 15 |
March 15 (Reuters) - Clothing-maker PVH Corp estimates that it will cut between 900 and 1000 jobs and close a number of facilities related to its acquisition of the Warnaco Group Inc.
The company, which owns and markets Calvin Klein and Tommy Hilfiger brands, said it did not yet have an estimate of the charges it would incur related to the job cuts and closure of offices.
PVH said it would shut Warnaco's Florence, Italy office, as well as those at Duncansville and Huntingdon, Pennsylvania, New York City, Milford, Connecticut, Hong Kong and other far east locations.
The company also said it may close more facilities and cut jobs in the United States and abroad.
PVH closed its $2.8 billion cash-and-stock acquisition of Warnaco last month.
Warnaco had about 7000 employees when the acquisition was announced in October.
Shares of the New York-based company closed at $117.97 on the New York Stock Exchange on Friday.
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