Coach Cuts 150 Employees
According to The Wall Street Journal, famed leather-good retailer, Coach, has announced that they have laid off 150 corporate employees as the economy shows few signs of improving. The cuts account for 10 % of the company’s corporate staff of 1,500 and were made across all business units.
The company is also taking other measures to control costs by deferring technology investments, eliminating merit-based wage increases, and slowing down brand expansion by opening fewer stores.
Coach is also attempting to appeal more to price-conscious consumers by discounting bags and pressuring vendors to reduce prices but not quality.
Guess I won’t be finding a job with Coach!