North Face Owner VF Lays Off 500 Employees During Turnaround
Denver-based VF has been working to turn the business around as sales slump in North America.
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North Face owner VF Corp. laid off about 500 salaried employees amid a new transformation plan that includes cost cutting and debt reduction.
Denver-based VF has been working to turn the business around as sales slump in North America, due largely to struggles at its Vans brand. It’s also been a target of two activist investor groups, one of which is pressuring the company to divest some brands and pay down debt. VF also owns Timberland, Dickies, JanSport and Supreme, among other labels.