Sunoco Debuts "Essence Of Racing" Campaign Executive Transactions Isiah Thomas Expected Backlash Over Hiring FanDuel Brings On Most Of Zynga Sports Team Georgia Approves Increased Athletic Budget Kentucky Adding Ribbon Boards At Rupp IndyCar Ponders How To Attract Fans Long Term Jeff Gordon Hired As Full-Time Analyst For Fox Danica's Sponsorship Status To Be Telling For NASCAR Classified Advertisements
Upcoming Conferences and Events
SBD/2/Sponsorships Advertising Marketing
L.A. GEAR TO DOWNSIZE BY 55% BY CUTTING 170 JOBS
Published December 2, 1996
Santa Monica, CA-based L.A. Gear will cut 170 jobs, decreasing its work force by 55%, according to the N.Y. TIMES. To cut costs, the company will consolidate office and distribution space as well as restructure it's European operations. In addition, President & COO William Benford will resign in February to join Shamrock Capital Advisors Inc. Bruce MacGregor, formerly Avia Athletic Footwear VP/Marketing, will take over on an interim basis. For the tenth straight quarter, L.A. Gear will post a loss in the fourth quarter (N.Y. TIMES, 11/28). Cuts will be carried out in the next three months, according to Frederick Rose of the WALL STREET JOURNAL, who notes the cutbacks are only the latest for L.A. Gear, whose losses have mounted, with sales dropping 30% in the first nine months to $170.6M from $242.8M a year earlier (WALL STREET JOURNAL, 11/29).