thailandedition
PVH cuts 1,040 employees and restructures global operations

PVH cuts 1,040 employees and restructures global operations

MGR Online•Economy•41m ago

Reader Briefing

PVH Corp. is reducing its global workforce by approximately 4% to increase operational efficiency and reduce costs.

  • •PVH Corp. plans to cut approximately 1,040 positions, roughly 4% of its 26,000 global workforce.
  • •The restructuring aims to save at least 100 million USD in fiscal year 2027 and 150 million USD annually from fiscal year 2028.
  • •Job cuts target non-consumer-facing positions, specifically approximately 12% of office-based associates.
  • •The process began immediately and is expected to be completed by the first quarter of 2027.

Overview

  • •PVH Corp. announced a major global organizational restructuring to reduce complexity and management layers.
  • •PVH Corp. disclosed the restructuring plan on November 12, 2026, via a Form 8-K filing with the US SEC.
  • •The restructuring is a response to weak consumer purchasing power, rising production costs, and international trade tariffs.
  • •PVH Corp. reported second-quarter fiscal year 2026 revenue of 2,097 million USD, a 3% decrease compared to the previous year.
  • •In the second quarter of fiscal year 2026, the Asia Pacific region grew by 3%, while EMEA revenue decreased by 6%.
  • •PVH Corp. will allocate resources toward product development, innovation, consumer data analysis, e-commerce, supply chain, and technology.
  • •Central Marketing Group manages the distribution and brand management of Calvin Klein and Tommy Hilfiger in Thailand.
  • •PVH Corp. expects to achieve a net cost saving of at least 150 million USD per year starting from fiscal year 2028.

Full article content is available on the original source.

Read on MGR Online (Thai Version)View in Google Translate

Source: MGR Online (Original)

View Original Article

Key Entities

Organization

PVH Corp.ℹ️
The owner of Calvin Klein and Tommy Hilfiger brands currently undergoing global restructuring.
Calvin Kleinℹ️
A fashion brand owned by PVH Corp.
Tommy Hilfiger(TOMMY HILFIGER)ℹ️
A fashion brand owned by PVH Corp.
McKinseyℹ️
An organization that co-authored The State of Fashion 2026 report.
The Business of Fashionℹ️
An organization that co-authored The State of Fashion 2026 report.
Economist Intelligence Unitℹ️
An entity that assessed global clothing market growth for 2026.
US Securities and Exchange Commission(สำนักงานกำกับหลักทรัพย์และตลาดหลักทรัพย์สหรัฐฯ)ℹ️
The US agency where PVH Corp. filed its Form 8-K document.
Central Marketing Group
A partner of PVH Corp. for distribution and brand management in Thailand.
Central Retail
The parent organization of Central Marketing Group.

Person

Stefan Larsson
The Chief Executive Officer of PVH Corp.

Place

EMEAℹ️
A region where PVH Corp. experienced a 6% revenue decrease.
Americasℹ️
A region where PVH Corp. revenue decreased by 1%.
Asia Pacific(เอเชียแปซิฟิก)ℹ️
A region where PVH Corp. revenue grew by 3%.
Thailand(ประเทศไทย)ℹ️
A market where PVH Corp. operates through local partners.