VF Corporation (Eastpak, Kipling, The North Face, Vans) is cutting jobs in Europe as well, after a previous round in the United States. 100 jobs in Antwerp, Belgium are to be terminated.
Fewer shared services
Last December, VF Corporation already announced 500 redundancies in its American home market, but now a hundred Belgian jobs in Antwerp will join the same fate. The “Shared Services” department for the EMEA region is next on the company’s target list to reduce costs due to rising losses. This mainly concerns positions in finance and IT, but jobs in human resources and office services are also to be reduced. VF Europe will now launch of consultations with trade unions. The two distribution centres in Belgium and its own shops will not be affected.
The company is struggling with declining figures: in the previous quarter, sales fell 16 % as demand in North and South America in particular slumped and flagship brand Vans performed disappointingly in Europe and Asia. VF Corporation is now reviewing its brand portfolio, as well as the company’s organisation.
