Merchandising

Men's Wearhouse shuttering stores, slashing workforce

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July 22, 2020

Tailored Brands, which owns Men's Wearhouse, will cut 20% of its corporate workforce and is considering closing up to 500 of the 1,450 Men's Wearhouse locations.

The layoffs will take place by the end of the second quarter, according to a CNBC report.

"Unfortunately, due to the COVID-19 pandemic and its significant impact on our business, further actions are needed to help us strengthen our financial position so we can navigate our current realities," Tailored Brands President and CEO Dinesh Lathi told the news outlet.

The company also announced that its CFO, Jack Calandra, is leaving at the end of July.