Ralph Lauren to cut workforce and focus on online sales

(Reuters) – Ralph Lauren Corp said on Tuesday it would cut global workforce by the end of its fiscal year as part of a company-wide restructuring to focus more on online sales.

The luxury apparel maker said the layoffs are expected to result in gross annual pre-tax savings of about $180 million to $200 million.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)