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Levi & Chen 39; S Revenue Fell 62% In The Second Quarter And Laid Off 15%
Recently, Levi's, the parent company of jeans brand Levi's, released its second quarter financial performance report on May 24, 2020. Levi's revenue was $500 million in the second quarter, down 62% from a year earlier, the report said.
Levi's According to chip Bergh, group president and CEO "As part of the response, in order to enable us to become a leaner, more market responsive organization, and to take into account the uncertainty of the impact of the virus, and to make us more confident in the cost structure, we made a tough decision to reduce our non retail and non manufacturing employees by about 700 jobs, or about 15%, which is expected to save us $100 million a year Yuan. "
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