Thisweek’s global newsProfitsslump by half at Levi-StraussProfitshave more than halved at jeans manufacturer Levi Strauss. The SanFrancisco-based company’s first quarter profits were only $29.6m (£20.7m) comparedwith $65.2m (£45.6m) in the corresponding period last year. Sales declined by 8per cent. Levi is among a number of clothing retailers, including Gap and Nike(see below), which have experienced poor results recently. Earningsat Nike slide after shoe sales slipSportsclothing giant Nike has reported that its earnings are down by a third. TheUS-based company’s first quarter profits announcement coincided with a 15 percent decline in sales of sports shoes in America. The group’s net income fell from$145m (£101.5m) to $97m (£67.9m), or from 52 cents per share to 35 cents. Nikehad predicted last month that profits would be down by between 34 and 38 percent.Airbusstakeholder to axe 1,500 jobsTheEuropean Aeronautic Defence and Space company, which has a 80 per cent stake inAirbus, is to cut 1,500 jobs through restructuring. Four divisions are beingcreated, covering missiles, defence electronics, services andtelecommunications to help reduce dependence on the commercial jet market. Mostof the jobs will go in the French space unit and others from Germany. Enodisstaff fall victim to shrinking marketUKfood equipment maker Enodis is to cut 900 jobs, mainly from its operations inthe US. Enodis has been struggling because most of its products are sold to theUS where the market for food equipment has shrunk by 10 per cent. Its shareswere down 33 per cent in pre-trading on the stock market and chief executiveDavid Williams has resigned. Enodis said the economic climate had worsenedconsiderably since the start of the year, particularly in North America, whichaccounted for 77 per cent of the food equipment operating profit in thefinancial year to September 2000. www.enodis.co.uk Previous Article Next Article Comments are closed. GlobalOn 27 Mar 2001 in Personnel Today Related posts:No related photos.