Levi’s Posts Extremely Weak Q2 Sales, Will Cut 15% of Its Global Workforce

Closeup of torn jeans

Source: Pixabay | Photographer: MabelAmber

Reading time: two minutes

The latest earnings report by the popular denim maker Levi Strauss & Co revealed that the company’s sales for the fiscal period tumbled by a whopping 62% as even online sales couldn’t compensate for the fact that the chain’s physical stores were closed for 10 weeks straight due to the COVID-19 pandemic.

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Business in Times of a Pandemic: Will the World Put the Breaks on the Record-high Unemployment Rates?

picture of worried man in a tie sitting on stairs

Source: depositphotos.com

Reading time: ten minutes

The COVID-19 pandemic and the effort made on behalf of governments to keep the situation under control led to astounding expenses for all nations across the globe.

In the first quarter of 2020, China’s economy shrank by 6.8% year-over-year. Soon, it was followed by the Eurozone, whose finances also shaved off 14.8% compared to last year, as well as by the U.S. with its year-over-year decline of 4.8%.

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