6 Stocks to Trade When the Markets Resume Tuesday >>> READ MORE

American Apparel Inc Layoffs: 500 Jobs Cut in Turnaround Attempt

American Apparel may outsource some manufacturing jobs

By William White, InvestorPlace Writer

http://bit.ly/26081H3

American Apparel Inc is laying off employees as part of its effort to turn around business after its bankruptcy.

American Apparel, American Apparel LayoffsThe clothing retailer has reportedly laid off 500 employees that are part of its manufacturing process. It says there’s a mismatch between workers and clothing output. The company also plans to make less clothing to help clear out its inventory.

The company spent months considering the layoffs and decided to go forward with them to increase efficiency.  American Apparel is also considering manufacturing some of its products through another company. However, it claims they will still be made in America, reports Fortune.

American Apparel’s bankruptcy plan included turning over control of the company to bondholders. This move fended off efforts from former CEO Dov Charney to take over the company again.

More From InvestorPlace:


Article printed from InvestorPlace Media, https://investorplace.com/2016/04/american-apparel-layoffs/.

©2019 InvestorPlace Media, LLC