Fashion Mogul’s Slumping Firm Fires 100 Employees
Fashion darling Tory Burch may be losing some sparkle. The New York apparel and accessories maker, squeezed by a weak retail environment, laid off 100 employees at its headquarters and some of its 160 stores on Tuesday as part of a reorganization, The Post has learned. The layoffs reduced salary overhead by 3 percent and were focused mostly on employees at its home office in the Flatiron District, said a source close to the situation. The cost savings will be used to invest in technology and sports apparel as well as to hire senior executives, the source added.