Does the bigger really picture really mean that there is no work for American labor? I have been in the "rag trade" for more than 20 years and I say this is not so.
I agree that heavily engineered products may require offshore production, but jeans and casual tops production has advanced to the level that they can be made in USA. The question is can the management market them as a "brand". VF has proven over the recent past they can not. This is a marketing failure.
To have missed the stated long term growth objective of $ 7 bil in 5 years, and in fact to be stuck at the same level for 5 years despite new brands coming into the business can only be termed a failure of senior management.
This management has rewarded themselves with bonuses and stock options as a result of performance based on smoke and mirrors. Cost cutting, moving production around and closing facilities.
The American worker is the consumer, if they have no work, there is no consumer. It is bad enough when a worker loses his/her job due to true poor market conditions, it is another when it is due to poor management (which is richly rewarded). VF has just announced record profits, is there no morality left in the world? Could not the management forgo their generous bonuses and stock options for the benefit of the people who have given them these record profits?