L.A. Gear plans layoffs, closingsAfter more than four...

BUSINESS DIGEST

September 15, 1995

L.A. Gear plans layoffs, closings

After more than four years of losses and attempts to restructure the company, L.A. Gear Inc. says it is laying off about 30 percent of its workers and closing some or all of its seven outlet stores.

About 160 people were notified of the cuts this week and jobs were eliminated across the board.

The Santa Monica, Calif.-based athletic footwear company will decide by the end of November as to which outlets will be targeted. L.A. Gear has stores in California, Texas, Arizona and Florida.

The cuts are expected to reduce costs by $25 million a year. L.A. Gear expects to incur a restructuring charge of between $3 million and $5 million at the end of the fiscal year.

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