Lots of people across all corporate teams just got layoff notifications.
They laid off their entire North American retail workforce only giving them 20% of their salaries when and if they return
Things are really bad. People are hurting.
This round of layoffs at Michael Kors was tough. They let go about 100 people. This round was a little different since I think they let people go that contributed a lot to the company. Early rounds were people that you know either made too much or... — read more
This is the only explanation why no report on the layoffs are happening.
Michael Kors has an amazing PR team or the media is rigged to hide the firing that has been going on at Michael Kors. When Coach or Tory Burch had layoffs it was reported the next day. Michael Kors has had multiple rounds of firing without a single... — read more
Michael Kors fired people at all levels. VP's to assistants were cut. Kind of surprising that heads of departments were fired. Management must be desparate to maintain stock prices until they can dump their stock. Bernie Sanders was right about a... — read more
Things are not looking good for MK for several reasons. The brand is losing it's luster as it is accessible to the masses. My cleaning lady carries MK. Business in the low end of luxury is slowing as millennials shift spending habits. Then there is... — read more
Michael Kors' layoffs will continue if they can't turn around their business categories like watches and hand bags. Watch used to represent over a billion dollars. I don't see them competing with smart watches. Apple has single handedly killed... — read more
Hang in all - things are not looking good and Q3, Q4 as well as 2017 will bring more job loses. All of this is just my gut feeling, nothing really to base this on except my prediction.