Levi Strauss Plans to Cut As Much as 15% of Global Staff

KEY TAKEAWAYSLevi Strauss plans layoffs of 10% to 15% of its global workforce to cut costs.The job cuts are expected to take place in the first half of this year, with the costs of restructuring estimated between $110 million and $120 million.Levi Strauss reported its net income fell 57% from a year ago, with revenue stagnating as inflation squeezed consumers.Levi Strauss & Co. (LEVI) shares lost 1% in early trading Friday after the denim maker announced plans to cut between 10% and 15% of its workforce.The ...