Tailored Brands To Cut Jobs, Plans Closure Of Up To 500 Stores; CFO Jack Calandra To Resign

Tuesday, 21 July 2020 (9 hours ago)
Tailored Brands, Inc. (TLRD) said the company will make organizational changes that will result in the elimination of approximately 20% of its corporate positions by the end of the second quarter. The company expects to record a pre-tax charge of approximately $6 million in the second quarter for severance payments and other termination costs, all of which are cash costs. Also, Tailored Brands has identified up to 500 retail stores for potential closure over time. The company has not yet quantified the expense savings and costs related to potential store closures.

👓 View full article