VF Corp To Cut Jobs Across Brands
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- December 17 2008
- 1,007 views
- 11 comments
VF Corp, parent company to Vans and North Face, confirmed Tuesday, December 16, that it will be cutting an undetermined amount of jobs across all of its brands, according to the International Business Times.
“The company said it was strong financially and its business and brands were healthy, but the cuts would help it plan for tighter budgets in 2009.”
The company was quoted saying it expects to “cut a modest number of jobs” as predictions of a weak economy carry over into the new year. To read the full story, click HERE.
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December 17th, 2008 at 10:28 am
I guess we can toss out the rumour that VF was positioned to buy out Quiksilver. Wow…job cuts in this industry HURTS!
December 17th, 2008 at 11:41 am
VF is one of the only companies to see growth over the past year. They are using the economy as a reason to trim the fat. and look to the right the stock is up 1.30…
December 17th, 2008 at 12:39 pm
They don’t want to purchase Quik or Roxy who are heavily debt ridden. They want D.C. because they are the one bright spot in Quik’s portfolio of brands. I’d expect to see “Mervin mfg.” go it’s separate way in the near future.
December 17th, 2008 at 9:47 pm
mike and pete… take mervin back!
December 18th, 2008 at 8:01 am
RipCurl has so much cash right now that they can buy quik any time they want.
December 18th, 2008 at 8:25 am
Why would they bother then…just let it collapse and eat their market share. However Rip Curl doesn’t have the same brand equity in NA as Quik…Hate to say it.
December 18th, 2008 at 10:09 am
Well, if such is the case, then VF and RipCurl have their collective nuts and bolts in their brain trust (corporate management)in the right place, rather than in the case of Quiksilver going all over the place and straying away from the core concept that their foundation was built upon when they got up and running in the first place. Golf and skis? That was a bad move…McKnight is probably not as “dumb” as one might expect. Quik will ride out the tsunami. I doubt (with a grain of salt) that Bob will allow Quicksilver to collapse. If Quiksilver ever gets between a rock and hard place, I’m sure they will trim out the non-essential workforce and re-evaluate their game strategy. Thumbs up to VF for thinking smart in this case.
December 18th, 2008 at 12:09 pm
what’s nate b gonna do?
December 18th, 2008 at 1:16 pm
He’ll continue to ride pow.
December 19th, 2008 at 10:44 am
totally brah. totally. top to bottom all day, fresh lines. pow on the trailz!
December 19th, 2008 at 1:41 pm
BRO!