US: PVH to cut up to 1,000 jobs after Warnaco acquisition
The company plans to close the Warnaco offices in Florence, Italy, as well as those in Duncansville and Huntingdon in Pennsylvania, with further redundancies in its New York City, Milford, Connecticut, Hong Kong and other Far East locations.
The company said it may close more facilities and cut more jobs, both in the US and internationally.
Most of the terminations will take place during the second half of 2013, and the first quarter of 2014.
The US$2.9bn deal reunites the house of Calvin Klein, bringing together all of its apparel categories in one place for a single vision of the brand.
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PVH Corp says it is on track with the integration of the Warnaco business it bought earlier this year, despite the fact acquisition costs pushed the apparel giant to a second-quarter loss....
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Apparel giant PVH Corporation expects to see strong growth at Tommy Hilfiger and Calvin Klein once teething problems with the integration of its Warnaco business are addressed, the group has revealed....
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