Levi’s cuts 42 jobs in European HQ

Levi’s has announced significant job cuts at its European headquarters in Machelen (near Brussels). 42 out of 250 jobs will disappear as the jeans brand is carrying out a global reorganisation.

Two-year cost-cutting plan

While the American jeans label’s sales stayed stable at 6.2 billion dollars (just under six billion euros) last year, profits plummeted by over 20 % to 555 million dollars (half a billion euros). That forced Levi’s to announce that one in eight administrative positions worldwide will disappear as part of a two-year cost-cutting plan. This year, the plan is already expected to earn the brand 100 million dollars.

The brand’s European headquarters near Brussels will be hit even harder, with one in six jobs facing the axe. The first phase of the collective redundancy procedure is completed by now, local newspaper Het Nieuwsblad reports. Levi Strauss is also closing its last European factory, in Poland, resulting in the loss of another 650 jobs there.