US: Payless ShoeSource axes 45 HQ jobs
Footwear chain Payless ShoeSource is laying off some 45 employees at its headquarters in Topeka and will not fill another 97 vacancies across its business, as part of ongoing restructuring efforts.
In a written statement, the company said: "Yesterday (8 January) Payless ShoeSource conducted some business restructuring activity to better align and focus the organisation and its resources since the close of the sale of Collective Brands in October.
"As such, 97 open positions have been eliminated throughout our global organisation, as well as about 45 occupied positions at our Topeka headquarters. Severance and outplacement services are being provided to the displaced associates," the company added.
The sale of Collective Brands saw investment firms Blum Capital and Golden Gate acquire the operations of Payless ShoeSource, transitioning it from a public to a private company.
Wolverine Worldwide, meanwhile, bought Collective Brands' Performance + Lifestyle Group (PLG), which includes the wholesale and retail operations of the Sperry Top-Sider, Saucony, Stride Rite and Keds brands
Wolverine Worldwide this week also outlined a number of organisational changes designed to help drive global growth after the acquisition.
Footwear business Wolverine Worldwide recorded a slight fall in first quarter profit, but saw revenues double thanks to a full quarter's contribution from newly acquired brands....
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