Patagonias chief operating officer, Mike Mascarenhas, has told his employees that the company will slash 5,300 jobs in all its global operations over the next year.
Mascarelli told employees that there will be a new focus on safety and sustainability, and that there would be fewer and fewer of them at Patagonas HQ.
Patagonys board of directors approved the cuts, which Mascandri said in a statement.
The cuts will affect 1,200 employees in Patagones headquarters, the company said.
In April, Mascarella said the company was cutting 5,400 jobs worldwide in a bid to cut costs.
The cuts are part of a broader restructuring plan that includes the creation of a new, more diversified business unit, the announcement of a restructuring program to help the company’s international operations, and the sale of a controlling stake in the company to an American investor.
While the Patagonian operations will be impacted, Mazzarenhas said the cuts were necessary for the company and the world to remain at a global level of competitiveness and sustainability.
“This has been a long journey, and I thank you all for your commitment,” Mascardi said in the statement.
Patagonia has been growing rapidly in recent years, and last year generated nearly $2.5 billion in revenues, with more than half of that coming from sales of its lightweight, insulated jackets.
Pataguas new products are now selling in the $300 to $500 price range, and in its first year of sales it sold a whopping $20 billion in jackets.