Ralph Lauren Corporation RL announced measures to accelerate its “Next Great Chapter plan”, which includes creating a simplified global organizational structure and rolling out improved technological capabilities. Well, the company’s share price increased 5.4% during trading session on Sep 22.
Ralph Lauren unveiled its plans to curtail its global workforce by the end of fiscal 2021 under its “Fiscal 2021 Strategic Realignment Plan”. By reducing its workforce it expects to see gross annualized pre-tax expense savings between $180 million to $200 million. These savings are anticipated to be realized mainly from the start of fiscal 2022. However, management is likely to incur total pre-tax charges in the range of $120-$160 million in this process.
Under the company’s Simplified Organizational Structure initiative, it plans to consolidate its global Marketing and Branding functions. Also, Ralph Lauren will create a Consumer Intelligence and Experience (CIX) platform which will leverage consumer insights and predictive