Ralph Lauren to cut workforce and focus on online sales

The luxury apparel maker said the layoffs are expected to result in gross annual pre-tax savings of about $180 million to $200 million

Reuters

22 September, 2020, 07:30 pm

Last modified: 22 September, 2020, 07:31 pm

Picture: Reuters

Ralph Lauren Corp said on Tuesday it would cut global workforce by the end of its fiscal year as part of a company-wide restructuring to focus more on online sales.

The luxury apparel maker said the layoffs are expected to result in gross annual pre-tax savings of about $180 million to $200 million.

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