L.A. Gear restructures

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L.A. Gear, Santa Monica, Calif., announced a corporate reorganization plan that includes staff reductions. Jim Moodhe, formerly president of Guess Athletic, was named senior VP-design, development and marketing. He previously worked for Nike and K-Swiss. Also, David F. Gatto was promoted from senior VP-international to exec VP overseeing sales, merchandising and operations. L.A. Gear said it will cut its work force by about 30%, eliminating 135 to 160 jobs, as part of its plan to reduce expenses by $25 million. It also will close some or all of its seven retail stores. At fiscal yearend, L.A. Gear expects to record a one-time restructuring charge estimated at between $3 million and $5 million.

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