David’s Bridal to Divorce Itself of 9,000 Employees across Multiple Sites
In a filing with the Pennsylvania Department of Labor and Industry, leaders at David’s Bridal announced plans to terminate more than 9,000 employees. Emma Dooling reported this latest sign of financial difficulty for the Conshohocken fashion brand in the Philadelphia Business Journal.
The employee cutbacks are positioned as one of several “strategic options” designed to iron out the company’s recent downturns. Those troubles have led to another possible bankruptcy declaration for the retailer, its second in six years.
In its filing to the state, David’s Bridal leaders described several possible remediation approaches, over and above the staffing cuts:
- Sale as an ongoing concern
- Sale of certain assets and intellectual property
- A wind-down of operations that results in labor-force reductions
Evidence of the last option emerged in the state filing, mentioned as a “mass layoff and/or plant closing” in the paperwork.
Locally, job-role eliminations are expected in three Montgomery County locations, two in Bucks County, and one in Delaware County.
Nonetheless, all David’s Bridal stores remain open and operational.
The state paperwork also noted that the brand’s actions are “subject to change as the company continues to evaluate its options.”
More on the status of David’s Bridal is at the Philadelphia Business Journal.
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This Wall Street Journal video examines some of the decision making behind layoffs.
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