Coach Cuts Jobs, Shakes Up Management in Turnaround Effort

Coach Inc., the maker of luxury handbags and Stuart Weitzman shoes, is cutting jobs and shaking up its management as it seeks to continue its nascent turnaround.

Chief Operating Officer Gebhard Rainer and David Duplantis, president of global marketing, digital, and customer experience, will be stepping down, the New York-based company said Tuesday in a statement. Andre Cohen will become president of North America and global marketing, while Todd Kahn will become president, chief administrative officer and secretary. The company also said it’s reducing global corporate staffing levels and improving its supply chain. Those moves will result in pretax charges of $65 million to $80 million.