We received reports today that the Carlsbadistan-based action sports footwear and clothing company Reef dropped the axe on 42 employees as the savage retail economy continues to take its toll. Reef is one of 25 brands owned by VF Corp. Some of the company’s other brands include Vans, The North Face, 7 For All Mankind, Eastpack, Jansport, Wrangler, and Eagle Creek.
In a late December 2008 interview with TransWorld Business VF Corp’s President Americas Coalition Dave Gatto said:
We all know there can be a huge up-swing when the market recovers; it’s just a matter of adjusting the business responsibly to survive the lulls and hopefully emerge a stronger, more efficient brand.
Looks like Mr. Gatto just “adjusted” the Reef business to survive this lull. Hopefully, that was enough.
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