Permira's Hugo Boss Math Doesn't Add Up

Yesterday we wrote about the pending Ohio factory closure by Hugo Boss, a publicly-traded retailer controlled by private equity firm Permira. The central issue, of course, is money. What's odd, however, is that Permira seems to be making a questionable financial decision. Hugo Boss reportedly asked the workers to take a 25% pay cut from $12 to $9 and, when they refused, opted to shutter the facility and move the jobs overseas. Ohio officials tried to intervene with financial incentives, but it was too late.

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