If the market makes a turn soon, do you think there will be VF layoffs? Any chatter, news or rumors?
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VF Corp is sc--wing employees they are laying off! No matter how long they have been there a 20 year veteran employee gets the same as a 2 year veteran. A 6 week severance package!. Why give a company loyalty when they will sc--w you like that! For a so called world class company? Pathetic if you ask me. 20 years of loyalty and love working for VF and they sc--w you like that. Real class VF! NOT!
Several layoffs for sales reps at TNF this week. Some even director level layoffs.
There were more layoffs today. 25 people at The North Face.
I don’t foresee anymore layoffs although I think we will be in a long-term hiring freeze with the exception of very critical employees. VF revenue will be down for the quarter but part of the reason is because of the cyber attack that halted shipping. VF will probably report that the impact from the cyber attack was more severe than it actually was, allowing them to camouflage some of the performance issues and brand staleness they have.