PVH Plans Additional Headcount Reductions Under Previously Announced Streamlining Plans - Filing
Portfolio Pulse from Benzinga Newsdesk
PVH Corp. has announced additional headcount reductions under its previously announced streamlining plans. The company expects to incur approximately $50 million of severance expense, primarily in the second quarter of 2023. Further actions are expected in the third quarter of 2023, with all actions expected to be completed by the end of the third quarter.
July 11, 2023 | 10:14 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
PVH Corp. is reducing its headcount as part of its streamlining plans. This could lead to short-term expenses but may improve operational efficiency in the long run.
The announcement of headcount reductions and the associated severance expenses could negatively impact PVH's stock in the short term due to the immediate financial burden. However, the streamlining could potentially improve operational efficiency and profitability in the long run, which could have a positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100