Rockford, Michigan-based Wolverine World Wide, a marketer and licenser of footwear and apparel, announced the closure of its Louisville, Kentucky distribution center.
The closure will impact 150 employees and layoffs are scheduled for May 3, 2024.
The company continues its turnaround efforts, which include divestitures, layoffs, office consolidations, and leadership changes.
"We are effectively executing our transformation plan with great pace – having largely completed the stabilization phase of our turnaround,” said Chris Hufnagel, President and Chief Executive Officer of Wolverine Worldwide. “We finished the year with revenue and earnings in line with guidance and inventory and debt levels better than expected. Most importantly, Wolverine Worldwide is a much different company than it was just six months ago, with a healthier balance sheet, enhanced efficiency to deliver higher profit and investment, and a redesigned organizational structure to strengthen our brand-building capabilities. Our focused portfolio of authentic brands – supported by powerful central platforms – is focused on helping consumers live better lives through performance-led product innovation and design. Going forward, we are accelerating our transformation of the business to ultimately drive an inflection to growth. Our team is energized by our new vision to become global brand builders, and we are confident in our ability to drive meaningful and sustained shareholder value.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
