V.F. Corporation announced on November 22, 2024, that it would lay off 242 employees at its Virginia distribution center. This action is part of a previously announced facility closure.
The layoffs come as the company continues to face declining earnings and navigates a recent S&P credit rating downgrade. These measures are part of VFC's broader cost-reduction strategy.
The closure and associated layoffs reflect ongoing efforts to streamline operations and improve efficiency within the company's supply chain and cost base.
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