Burlington Cuts 4,000 Jobs in U.S., Mexico
Burlington Industries Inc., which in November filed for bankruptcy protection, said it will cut 4,000 jobs as it restructures its apparel fabrics group.
The Greensboro, N.C.-based company expects “substantial” restructuring charges in the first and second quarters of fiscal 2002 as a result of the reorganization plan.
Of the 4,000 jobs, about 2,800 will come from Burlington’s domestic work force of 10,000 and about 1,200 from its 4,000 workers in Mexico.
Under the plan, all apparel products will be marketed and sold under one organization, “Burlington WorldWide,” replacing the previous divisional structure.
Shares of Burlington closed unchanged at 5 cents in over-the-counter trading.
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