Not Even Underwear Is Safe: Popular Brand Announces Lay Offs [Video]

Chances are you have, at one point, owned a set of underwear from the Hanes brand. However, even this underwear giant is having to make cutbacks in today’s climate, announcing lay offs and business transfers.

The 75 job layoffs the underwear company is having to make are due to the sale of the Champion brand from the Hanes repertoire. Due to the sale of their secondary company, the High Point Distribution Center facility will be closing. This was the main distributor for Champion.

Champion has split from the Hanes brand for no small sum of $1.5 billion. However, Hanes as a company is worth a solid $6 billion. Sometimes, even with an underwear company of this size, lay offs are inevitable. However, this distribution company may still be used.

The sale of Champion went to the Authentic Brand. This company is known for owning such labels as Eddie Bauer, Brooks Brothers, Rockport, and Reebok. So, this won’t …