Levi closing North American plants
Reuters
Posted September 26, 2003
SAN FRANCISCO, - Struggling blue jeans maker Levi Strauss & Co. said Thursday it would close its remaining North American plants, leaving nearly 2,000 employees out of work and completing its long exit from the U.S. manufacturing business.
The job cuts and plant closures are part of the latest restructuring at the 150-year-old company, which has fallen on hard times as both cheaper discount brands and pricey designer labels have cut deeply into its market.
Earlier this month, Levi Straus, said it would cut 650 jobs and seek waivers from its lenders, while it sought new financing and tried to better compete with lower-price apparel makers.
The company, like many apparel companies, has found it much cheaper to send its production overseas. After it closes its remaining North American plants - in San Antonio, Texas; Edmonton, Alberta; and Stoney Creek, Ontario - it will out-source manufacturing to plants all around the world, many concentrated in Latin America.
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