Ralph Lauren to Cut 15% of Jobs Amid Shift to E-Commerce (2)

Ralph Lauren Corp. is trimming its workforce as the apparel maker accelerates plans to shift to more online sales.

The cuts will total 15% of its workforce, or about 3,700 workers, according to a person familiar with the plans. The jobs are expected to be eliminated by the end of its fiscal year, which concludes in March.

The moves will result in pretax charges of $120 million to $160 million, the company said in a statement. Annual savings, starting in the company’s next fiscal year, are seen reaching as much as $200 million.

The restructuring comes as Ralph Lauren ...