PVH Corp., the owner of Calvin Klein and Tommy Hilfiger, plans to cut about 4% of its workforce as it seeks to reduce costs and simplify its organization. The reductions will mainly affect office-based roles that do not face consumers, the company said Thursday.
By Money Talk·November 12, 2026·2 min read·500 reads
Those positions account for roughly 12% of PVH’s office-based employees. The company had 26,000 workers in total at the end of March, according to its annual filing. Cuts are to begin immediately, with PVH aiming to complete them in the first quarter.
The company said the broader effort is intended to reduce organizational layers, clarify accountability and speed up decisions. After selling non-core businesses in recent years to concentrate on Calvin Klein and Tommy Hilfiger, PVH described the job reductions as its next step in streamlining.
PVH is targeting at least $100 million in pre-tax cost reductions in fiscal 2027. That figure includes $45 million in anticipated annualized run-rate savings, which the company discussed on its September earnings call. From 2028, PVH aims to achieve at least $150 million in annual cost savings.
In September, PVH reported lower sales and a second-quarter loss, citing softer demand in its Europe-Middle East region related to the Iran conflict. The company is scheduled to report third-quarter earnings in early December.
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