*Lands' End to Restructure, Cut Jobs
Lands' End, Dodgeville, WI, announced plans Jan. 12 to close three of its 19 outlet stores and cut 94 positions, or 10 percent of its workforce. The restructuring comes as the company struggles with a growth in staff that exceeded its sales growth. It also said it will liquidate its Willis & Geiger outdoor clothing catalog business."I know we cannot continue to support this large a staff, nor can we operate as cohesively as we need to, without restructuring our company along more traditional lines," president/CEO David Dyer told workers.
While Lands' End sales increased 35 percent in the last four years, its workforce grew 58 percent, to 888 salaried positions. The cost of the restructuring will be included in a charge in the fourth quarter of fiscal 1999, which ends Jan. 29. More information will be released when the company announces its holiday results Jan. 14.
