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Levi cut 700 jobs

US jeans brand Levi Strauss is cutting 700 jobs, or about 15% of its corporate staff, as it grapples with the downturn caused by the pandemic.
The firm, hit by a 62% fall in sales in its most recent quarter, said the reductions were necessary "given the uncertainties" of the virus impact.
However, Levi's said shoppers are returning as stores reopen.
But it warned that it expected sales to be "significantly adversely impacted" through the end of this year.
"There are still a lot of uncertainties," said Levi's chief executive Chip Bergh.
Levi's, which re-listed on the US stock exchange last year, has seen sales rise in recent years, as jeans regained popularity and the fad for loungewear faded.

https://www.bbc.co.uk/news/business-53329555#
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