Collective Brands, Inc. announced a restructuring Tuesday that will reduce the size of its local workforce.
About 20 employees will be affected by the job cuts, according to a company statement. The rest of the positions being eliminated are already open positions.
The cuts come as a result of a realignment strategy encompassing all of the companies under the Collective Brands umbrella.
Over the past fifteen months, Collective Brands has expanded to include Payless Shoe Source, Boston-area-based Stride-Rite, and Collective Licensing International, a brand management firm based in Denver. The latter two companies were added in 2007.
Collective Brands, Inc. (NYSE: PSS) is a leader in bringing compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. The company operates three strategic units covering a powerful brand portfolio, as well as multiple price points and selling channels including retail, wholesale, ecommerce and licensing. Collective Brands, Inc. includes Payless ShoeSource, focused on democratizing fashion and design in footwear and accessories through its more than 4,500-store retail chain, with its brands American Eagle™, Airwalk®, Dexter®, Champion® and designer collections Abaeté for Payless, Lela Rose for Payless and alice + olivia for Payless, among others; Stride Rite, focused on lifestyle and athletic branded footwear and high-quality children’s footwear sold primarily through wholesaling, with its brands including Stride Rite®, Keds®, Sperry Top-Sider®, Robeez®, and Saucony®, among others; and Collective Licensing International, the brand development, management and global licensing unit, with such youth lifestyle brands as Airwalk®, Vision Street Wear®, Sims®, Lamar® and LTD®, World Snowboarding Championships™, Sugarboards®, Carve®, genetic®, Dukes™, Rage®, Ultra-Wheels®, and Skate Attack® brands. Information about, and links for shopping on, each of the Collective Brand’s units can be found at http://www.collectivebrands.com.