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Ralph Lauren's Next Great Chapter: Cut jobs

Christian Fernsby ▼ | September 22, 2020
Ralph Lauren Corporation announced steps to accelerate its Next Great Chapter plan to deliver sustainable long term growth and value creation.
Ralph Lauren Corporation
Cut jobs   Ralph Lauren Corporation
Creating simpler, flatter team structures will enable more agility and greater consumer responsiveness.

Topics: Ralph Lauren

This includes the consolidation of the Company’s global Marketing and Branding functions, the establishment of a new Consumer Intelligence and Experience (CIX) organization, and the reorganization of the Company’s Corporate Merchandising teams.

Ralph Lauren is announcing plans to reduce its global workforce by the end of the Company's Fiscal 2021, which is expected to result in gross annualized pre-tax expense savings of approximately $180 million to $200 million, with savings realization primarily beginning in the Company's Fiscal 2022.

In connection with the reduction in workforce, the Company expects to incur total estimated pre-tax charges of approximately $120 million to $160 million.