Dressbarn, a household name for over 50 years, has struggled to grow sales in a competitive market where it battles with online retailers like Amazon and off-price retailers like T.J. Maxx.
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It’s the first of a wave of Ford layoffs in the U.S. that is expected to hit 800 by the end of June and 7,000 worldwide by the end of August.
Chip suppliers are losing a big customer as Huawei purchases an estimated $20 billion of semiconductors each year.
Ford Motor Company says it’s cutting 7,000 jobs worldwide, including 2,300 in the United States. CNBC’s Phil LeBeau reports on the CEO’s restructuring plan.