From “CNBC”:

Levi Strauss plans to lay off 10% of its global corporate workforce due to weaker sales, with potential up to 15% of employees affected. Other retailers like Macy’s and Wayfair have also announced job cuts. Fourth-quarter earnings fell short of analyst expectations, with revenue and earnings per share forecasts lower than Wall Street anticipated. The company’s shares fell about 2% in extended trading Thursday. Net income for the three-month period that ended Nov. 26 was $126.8 million, or 32 cents per share, compared with $150.6 million, or 38 cents per share, a year earlier. Levi’s expects earnings of $1.15 to $1.25 per share for the year, lower than analyst expectations of $1.33 per share. The company’s shares fell about 2% in extended trading Thursday. The denim retailer has looked to gain athleisure market share and appointed former Athleta CEO Nancy Green as the new chief executive for the brand earlier this month.



Read more: Levi Strauss plans to cut at least 10% of corporate workforce