Ralph Lauren lays off 750 staff as part of restructuring
Ralph Lauren began cutting 5 percent of their staff, or 750 jobs, in mid-May, as part of their approach to building a new business model. The company is expecting it to take several months before they fully shift to their new business model.
As of the fourth quarter ending on March 28, Ralph Lauren had 25,000 employees, consisting of 15,000 full-time employees and 10,000 part-time employees. As of now, it is unclear how many more jobs could be affected as the company continues it shift to a new model. Many positions were cut due to redundancy in job duties.
In a statement, a spokesman for Ralph Lauren said, “Consistent with what was reported after our May earnings call, as part of Ralph Lauren Corp.’s new brand management structure to maximize growth and achieve meaningful operating and financial efficiencies, we are reducing our full-time workforce. Making these kinds of decisions is difficult but necessary, and our new structure will create a platform for profitable growth by allowing us to both improve our global brand equities and drive operating efficiency over time.”