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US Clothing Giant PVH Plans To Close 162 Stores And Lay Off 450 Employees
PVH group, an American clothing giant, said on Tuesday it plans to cut 450 office workers in North America, equivalent to 12% of its total white-collar employees in North America, and close 162 retail stores as the new epidemic has caused serious damage to the clothing industry.
PVH is one of the world's largest clothing companies with many well-known brands, including Calvin Klein, Tommy Hilfiger, van Heusen, Izod, arrow, Speedo, Warner's s, Olga and Geoffrey Beene.
The company said the layoff would affect all its brands and is expected to save about $80 million a year.
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