Changes coming to Ralph Lauren Corp.
Change is in the air at Ralph Lauren, WWD reports. According to industry sources, significant layoffs will affect the American design company including several longtime company executives.
The cuts could also impact up to 10 percent of the company’s workforce and cause some store closures, WWD reports
On Tuesday, Stefan Larsson, chief executive officer and president of Ralph Lauren, will outline his multi-year strategic plan. It is believed that Larsson might divulge bigger restructuring plans at this meeting.
Last year, the company reduced its head count by five percent, about 750 jobs. As of the end of March 2015, the company says it had 25,000 employees.
The company currently directly operates 493 stores, including Ralph Lauren stores, Club Monaco stores and Polo factory stores. It also operates 583 concession shop locations worldwide.
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