WINSTON-SALEM, N.C. (AP) -- Apparel maker Hanesbrands Inc. said Tuesday it will cut about 400 jobs and close a yarn production plant to save money, citing the difficult economic climate.
The company said it is eliminating a total of 210 jobs from its supply chain management unit, and from corporate functions like customer management, finance, human resources, marketing and information technology. Hanesbrands also said it will close its yarn production plant in China Grove, N.C., by the end of the year, because demand for higher-end ring-spun yarn has decreased.
The company said it will cut 185 jobs with the plant closure. The job cuts and plant closing will lead to a charge of $14 million in the fourth quarter.
"Given the significant economic uncertainty, we must manage our business conservatively, and we must tightly control costs," said Chief Executive Richard Noll in a statement.
Of the 210 management and corporate jobs being pared, 155 will be based in Winston-Salem, and 35 will come from other locations around the U.S. The remaining 20 will be from international sites. The company said it has about 48,600 employees worldwide.
In aftermarket trading, Hanesbrands shares lost a penny to $13.02, following regular session trading where the stock fell 48 cents, or 3.6 percent, to $13.03.