Levi Strauss cutting at least 10% of corporate jobs, part of ‘Project FUEL’

Denim giant Levi Strauss & Co. (Levi Strauss) is planning to eliminate 10 to 15 per cent of its global corporate workforce.

What’s happening at Levi Strauss?

In its Q4 2023 earnings release, Levi Strauss announced that its board of directors endorsed a global productivity initiative called “Project FUEL.”

“This is expected to be a two-year initiative with a focus on optimizing the operating model and structure, redesigning business processes, and identifying opportunities to reduce costs while simplifying processes across the organization,” the release reads.

The job cuts, which are part of the “first phase” of Project FUEL, are expected to take place in the first half of the year.

“As a result, [we expect] to record estimated restructuring charges of $110 to $120 million in the first quarter,” the company said.

“Additional restructuring charges may be incurred as [we progress] further with this initiative.”

It remains unclear if any Canadian workers will be let go as Levi Strauss scales back its corporate staffing levels.

As of November 2023, the company reportedly employed a total workforce of more than 19,000 people.

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