VF Corp Cuts Jobs in January 2025 Under ‘Reinvent’ Restructuring Plan

What’s going on at VF Corp?

VF Corporation, the parent company of Vans and Timberland, has confirmed another round of layoffs as part of its ongoing restructuring. The company is realigning its global commercial functions to align with its updated business model under its “Reinvent” turnaround strategy. Footwear News shared the news on Friday.

Official statement and context

• A VF representative stated, “This work relates to the company’s previously announced turnaround strategy. While these decisions are never easy, we are confident this work will result in a stronger foundation that supports the company’s growth and value creation objectives.”
• The company emphasized its commitment to handling these layoffs “with dignity and respect” but declined to provide details about the number of employees or specific departments impacted.
• These layoffs follow previous workforce reductions in November.

Financial and strategic context

VF has been implementing its Reinvent strategy to streamline operations and save $300 million by the end of fiscal year 2025. The latest layoffs underscore ongoing challenges within the retail and apparel industry, where companies are facing pressure to optimize operations amid changing consumer demand and rising costs.

Impact on Canadian staff

It remains unclear if the workforce reduction at VF will affect Canadian employees.

According to LinkedIn, the company has more than 35,000 workers around the world.

ADDITIONAL RESOURCES
• Can I be fired after a bad performance review in Ontario?
• What Albertans need to do if they’re fired after a bad performance review
• Fired after a bad performance review in B.C.: Employee rights

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