*Lands' End to Restructure, Cut Jobs
"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.