PVH to cut about 4% of its global workforce, SEC filing shows

The owner of Calvin Klein and Tommy Hilfiger told the SEC it will cut about 4% of its global workforce, mainly in non-consumer-facing roles. The filing gives no head count.

In this brief: 4 sections 1 min read

- About 4% of the global workforce, mainly non-consumer-facing roles
- About 12% of office-based associates
- No number of people affected is given
- Changes begin immediately. Remaining actions are expected in the first quarter of 2027, and the whole initiative is expected to finish by the end of fiscal 2027.
- Restructuring costs, mainly severance, can't yet be estimated, PVH says
- At least $100 million in pre-tax cost reductions in fiscal 2027, net of growth investments
- At least $150 million in full annualized net savings from fiscal 2028
- PVH says the initiative will speed up its strategic priorities, improve productivity and strengthen long-term growth and profitability, partly by reducing organizational layers and duplicative work.

Read full analysis on sec.gov

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