Report: Jos. A. Bank lays off 122 headquarters employees
Hampstead, Md. – Jos. A. Bank Clothiers is reportedly laying off 122 workers at its corporate headquarters. According to Reuters, the cuts will occur between May and December 2015, and represent about 15% of its total headquarters personnel. The layoffs come nearly one year after the company was acquired by Men’s Wearhouse.
In addition, some employees at company headquarters will be transferred to offices in New York City and the headquarters of Men’s Wearhouse in Fremont, California. In total, staff at Jos. A. Bank headquarters will be reduced from 780 to about 450. Men’s Wearhouse completed a $1.8 billion acquisition of Jos. A, Bank in June 2014.
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