Thousands of fashion and retail jobs could be at risk
In January alone, at least 18,517 fashion and retail jobs are believed to be at risk. That number could be three times the 4,686 known jobs cut from July to December 2023.
Superdry is working with PwC on its restructuring options. Berlin department store operator KaDeWe declared insolvency last week. The cuts are on top of job losses in the first half of 2023.
Signa's problems also led to the insolvency of Galeria Karstadt Kaufhof, the German department store network. It is the third in nearly four years.
Last-mile delivery provider Veho announced that it will lay off 19% of its employees.
United Parcel Service announced it is cutting 12,000 jobs as shipment volume in the United States and abroad declined.
The European Data Agency found that the EU narrowly avoided a recession in 2023.
Germany contracted 0.3 percent in the fourth quarter, but managed to avoid a technical recession due to an upward revision of its third quarter reading.
Data for the United Kingdom, which left the EU in January 2020, will not be available until next month. Kimberly-Clark took a minority stake in the brand in 2019 and increased that stake to become the largest stakeholder in 2022. The workers who will be laid off are located in New York at 100 Broadway.
Fruit of the Loom is closing its distribution center in South Carolina.
H&M Group is planning to close 28 stores in Spain, or more than a fifth of its 133 stores in the country.
Levi Strauss & Co. is cutting 10 to 15 percent of its workforce in the first half. The cuts were announced last week as the company focuses on becoming more direct to the consumer. The fast fashion retailer is about to lose 400 jobs now that it plans to close its Daventry distribution center in the village of Crick in Northamptonshire, England.
Boohoo is also considering the possible closure of a location in Leicester, which would impact another 100 jobs.
Macy's Inc. announced Jan. 18 that it plans to lay off 3.5 percent of its workforce, or about 2,300 employees. The retailer has previously revealed a plan to close 125 department stores, 80 of which will be closed by 2019.
Boardriders' distribution center in Mira Loma, California, will lay off 139 positions, effective Feb. 4. The layoffs are part of the company's transition to new ownership under Authentic Brands Group.
Renewcell said Jan. 10 that the planned restructuring will result in the loss of 25 percent of its workforce.
Rent the Runway will cut its corporate workforce by 10 percent. The layoffs, which will impact 37 employees, are expected to take place in the second quarter. The cuts are part of a restructuring plan that is expected to result in annual savings of $11-13 million.
