This massive apparel company is now laying off 160 employees as it plans to repurpose a facility and streamline operations.
HanesBrands will lay off nearly 160 employees at a North Carolina facility, according to a Worker Adjustment and Retraining Notification (WARN) Act notice dated February 5th.
The mass layoff is effective April 5th as the company plans to repurpose the facility located on 2655 Annapolis Dr. in Winston-Salem, reports Supply Chain Dive.
The company declined to elaborate what that transition entailed.
While the company repurposes the facility, it will focus on “improving efficiencies, streamlining our operations and reducing costs,” the company told Supply Chain Dive in an email.
“Unfortunately, this will impact our associates, who we thank for their dedication to HanesBrands,” the company futher noted.
Some of the positions affected include shipping clerks, freight and logistics coordinators, and a manager of distribution.
Employees who are not able to secure alternative employment at another Hanes location will be provided with outplacement support activities, according to the WARN notice.
“The onslaught of inventory has pushed the clothing company to implement aggressive inventory management plans in the past few years,” reports SCD.
In August 2022, Hanes announced plans to cut 30% of SKUs and temporarily reduce production shifts at manufacturing facilities in an attempt to lower inventories.
Subsequently, the clothing company was able to reduce inventory levels throughout 2022 and 2023, according to the company’s earnings calls.
The company is slated to present its Q4 results from last year this coming Thursday.
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Also Read: Another Mall Clothing Retailer Now At High Risk of Bankruptcy
Other Economy News Today
A popular essential retailer is now closing 72 locations after filing for an unexpected bankruptcy, the company has confirmed.
Rite Aid has revealed it plans to shutter 72 locations this year after declaring bankruptcy in the fall, reports The-Sun.
Seven of those locations will be located in the Keystone State, with the company hitting a total of 43 closures across Pennsylvania.
Rite Aid filed for bankruptcy in October, and separate filings have slowly revealed which stores the company plans to close.
The drugstore is based in Pennsylvania, and will now close shop across much of its home state, local outlet PennLive reported.
Most of the locations slated to close are across the southern portion of the state.
They cut straight across the region, however, with locations shutting from the Philadelphia suburbs to the border with Ohio.
A number of towns will lose a Rite Aid location.
- Paxtang
- Greencastle
- Sharon
- Altoona
- Lower Macungie Township
- Doylestown
- Phoenixville
The locations will be added to the list of stores that have already shut in Pennsylvania.
The total has now reached 43, Penn Live reported.
Rite Aid has moved to shut hundreds of stores nationwide after filing Chapter 11.
The filing came amid controversy surrounding the chain’s opioid prescriptions.
However, Rite Aid is not the only major retailer seeing shutdowns.
Competitors like Walgreens and CVS have also been shutting locations, though at a much slower rate.
Walgreens recently revealed it would close a location in the heart of Times Square.
The New York City version of the chain, Duane Reade, will lose the location, though there are others just blocks away.
Customers at the store found out about the closure from a small paper sign at checkout, which offered instructions on where to go.
That location will close on February 20.
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Also Read: A US Company Now Declares An Unexpected Bankruptcy
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