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Levi’s axes 500 jobs worldwide

Levi Strauss is axing approximately 500 roles across the global business as part of the next phase of its “global productivity initiative”.

The company said final plans will vary by country and could not say if any UK positions would be affected.

The move comes as a result of a new partnership with IT and business consultant Wipro, which will provide support for certain business services within Levi’s IT, finance, human resources, customer service and consumer relations departments.

Levi’s said it will also continue to reduce layers of management, remove duplicative roles and make other structural changes.

The move is expected to take place in the second half of next year and will generate net annual cost savings of $175-$200m (£111-£127m) once fully implemented.

“We’re on a mission to transform our company to deliver sustained, profitable growth. Through our efforts this year we’ve made great strides toward bringing our cost structure more in line with our revenue base,” said Harmit Singh, chief financial officer of Levi Strauss.

“We are making solid progress, and I expect the actions announced today will help simplify how we operate, improve our productivity levels, increase our agility and further reduce costs.”

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