Additional job cuts are happening at Oakley this week as owner Luxottica further moves to integrate the brand more closely into the Luxottica infrastructure.
Earlier this year, the company trimmed about 170 jobs as part of the restructuring process.
This time we are hearing that the number of positions being cut is approximately 75.
Former longtime Oakley CEO Colin Baden, whose job was changed to Chief Innovation and Product Officer as Luxottica flattened the management structure, will shift into a consulting role, we are told.
Luxottica would not comment directly on Baden’s new contract, but did say via a spokesperson that Baden will continue at Oakley working on what he loves the most.
As far as the job cuts, the Luxottica spokesperson said, “As part of the Oakley refresh we announced earlier this year, there will be some changes in the coming months, including a shift in resources and talent that will allow us to better respond to the opportunities ahead. Our goal is explicitly to make the Oakley brand stronger, both by leveraging Luxottica’s resources and bringing it back to its entrepreneurial roots.
“We continue to pursue growth opportunities not only in areas such as apparel, retail and digital, but also new technology. Colin Baden will continue to drive the brand’s development in wearable tech and other product innovation. As always, preserving the DNA of the brand as it evolves will be a priority moving forward.”
Luxottica acquired Oakley in 2007, and for years, the brand continued to run as a standalone business. A new leadership team at Luxottica sees opportunities for synergies, however, and estimates that cost reductions and increased sales from the integration could total €100 million.
While some are worried that the job cuts and integration with the Italian-based Luxottica could hurt Oakley’s unique company culture, I have spoken to others that are surprised that some functions have not been merged and streamlined earlier, especially since Luxottica has owned the brand for eight years.
