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Wolverine Worldwide reducing workforce as part of cost saving efforts

Wolverine Worldwide reducing workforce as part of cost saving efforts

Wolverine World Wide Inc. said Thursday it has initiated an undisclosed number of job cuts in an effort expected to generate $30 million of cost savings in 2023. The footwear maker also said it will either sell or license its Keds and Wolverine Leathers businesses. All told, the Rockford, Mich., company expects 2023 cost savings efforts will generate $65 million. Shares of Wolverine World Wide fell 0.4% in premarket trades.