Levi Strauss, the American jeans manufacturer, plans to cut around 40 jobs at its European headquarters in Machelen, Flanders.
The firm announced earlier this year its intentions to eliminate between 10 and 15% of its administrative jobs within the first half of the year. This fell under a broader cost-saving strategy, aiming to save $100 million by 2024.
Levi’s maintained a steady turnover last year of $6.2 billion. Despite this, its earnings before interest and taxes dropped by a fifth to $555 million.
The company also unveiled plans to closef its Polish factory during its recent quarterly earnings announcement. The closure is set to affect approximately 650 employees, marking its last operational factory on the continent.
Belgium does not host any manufacturing sites, but it is home to Levi’s European headquarters. According to an employee, the first phase of the Renault procedure (a layoff process in Belgium) was completed last week.
The European leadership specified that 42 jobs would be cut in Machelen. However, retail staff will not be affected.
