Monday was a rough day at Quiksilver following an announcement that the company was trimming its head count by 44 across its brands to improve efficiencies and streamline operations.
Quiksilver Americas President Rob Colby and CEO Craig Stevenson sent the following company-wide email out today outlining the difficult decision:
We have identified a number of initiatives that will help us to achieve our goals, many of them associated with globalizing our business such as increasing the number of global products we sell, centralizing certain functions, and leveraging our marketing efforts across more of the globe. . . . As a result of our ongoing review, we are taking some actions today that result in the elimination of certain positions within the Americas region, specifically impacting 44 current employees. The employees whose jobs are being eliminated will be individually notified today and provided with a fair package of financial and transition support. Our Human Resources team along with department leaders will be personally involved in every notification conversation.
The cuts reportedly affected numerous departments and all of Quiksilver’s brands. An employee town meeting will follow shortly to outline the impact and strategy moving forward.
The brand’s stock closed up on the day at $2.32.