Tag: Thousands

Ralph Lauren to cut thousands of jobs and beef up online business

REUTERS: Luxury apparel maker Ralph Lauren Corp will cut 15per cent of its global workforce by the end of its fiscal year in a company-wide restructuring to lower costs and move more of its business online, it said on Tuesday.

The company had a total workforce of 24,900 as of March end and based on that, the plan could impact more than 3,700 jobs.

The COVID-19 health crisis has hammered demand for high-end handbags, apparel and accessories in retail stores, forcing luxury goods companies to slash costs and slow brick-and-mortar expansion plans.

However, their e-commerce sales have surged. Ralph Lauren said it would invest in digital platforms to support e-commerce operations, expand product personalization and add new features like augmented reality.

It will also move some human resource and planning systems to online cloud platforms, and streamline reporting lines.

“The changes happening in the world around us have

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Thousands of Houston-area school children still need at-home tech as online classes ramp up

As she scrambled to find a computer and internet access for her two elementary-age children last week, Jamesha Adams struck out at every turn.

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Thousands of businesses got critical loans during pandemic | Govt-and-politics

“I didn’t furlough one person, let go anybody,” she said. “I’m proud that I was able to do that. I’m appreciative of the money I received because that was literally the thing that kept me up at night while this was going on.”

Connecticut was not alone in offering struggling small businesses no- or low-interest loans, or in some cases, grants. Florida, Louisiana, Minnesota, New Jersey, New Mexico, Washington, Utah and Pennsylvania came up with programs after the pandemic hit, while many cities, including San Francisco, Denver and Chicago, also offered loans to local businesses. Amounts have ranged from $3,000 to $100,000.

In Connecticut, records show 15.4% of the state’s loans went to minority-owned businesses and 27.6% were issued to women-owned businesses. Full repayment is required one year after receipt of the funds, but applicants can request a six-month extension.

While Lehman considers Connecticut’s program a success, it appears unlikely

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