Vans parent company celebrates annual holiday mass sacking by shredding 500 workers ahead of Christmas!

Ho ho ho!

It’s that most wonderful time of the year, the joyous season when children make lists of what they wish to see under the tree, old friends reunite over a warm mug of nog and Vans parent company VF Corp holds its annual mass layoffs. This year Christmas came early for 500 employees who were executed before the calendar even flipped to December.

Likely dressed as jolly old Saint Nick, CEO Bracken Darrell “looks to speed up the turnaround of the company’s Vans division and overall North America business, while cutting costs,” according to Shop Eat Surf.

The official statement read, “As part of VF’s new Reinvent strategy, and with the aim of improving operational efficiency, we have eliminated approximately 500 salaried positions across the company globally. While these decisions are never easy, they will give us the financial flexibility to invest behind our brands and better position us for long-term growth. We’re committed to handling this restructuring with dignity and respect for all involved and want to thank those impacted for their valued contributions to VF.”

Like the sound of sleigh bells jing-jing-jingling.

But, quickly, what sort of name is “Bracken?”

Anyhow, back to Shop Eat Surf, “VF in the quarter ended Sept. 30 reported revenue of $3.03 billion, down 4% in constant currency. The company’s net loss totaled $450.7 million, compared to $118.4 million net loss in the year-ago period, with the widening partially attributed to the ruling on a tax case stemming from the acquisition of Timberland.”

Woulda been a lot cooler if they acquired Timbaland instead.

Oh well.

Happy Holidays!