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Monday, Jul 4, 2022

Report: Furloughs Hit Volcom

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Action sports apparel firm Volcom LLC furloughed most of its staff, according to a report from Shop-Eat-Surf, after a statewide lockdown this week halted operations for many California businesses.

The industry news site reported 75% of its U.S. staff and all of its European workforce were furloughed. Volcom ranked No. 10 on last year’s Business Journal list of the largest apparel companies here with some 270 workers in OC and 890 globally.

Inquiries to Volcom and its New York parent Authentic Brands Group were not immediately returned Saturday afternoon.

ABG and Volcom management last year formed the operating company Liberated Brands to purchase Volcom’s operations from French luxury conglomerate Kering S.A. ABG, separately, acquired Volcom’s intellectual property from Kering to license back to Liberated Brands.

The furloughs follow California Gov. Gavin Newsom’s stay-at-home order this week. Businesses dubbed essential, such as grocery stores and pharmacies, can continue operating.

Volcom is currently running a “40% off everything” sale online.

Go here for more updates on how OC companies are responding to coronavirus.

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