Cuts include C-suite execs and bring total affected to nearly 700 in California

  • Boardriders to lay off more than 600 employees by end of April
  • Cuts include C-suite executives
  • Total affected in California since acquisition by Authentic Brands Group is nearly 700
  • Authentic specializes in acquiring struggling brands and converting them into licensing models
  • Boardriders’ brands include Quiksilver, Billabong, Roxy, and more
  • Authentic owns a portfolio of over 50 names in lifestyle and entertainment

Boardriders, the company acquired by Authentic Brands Group in September 2023, is set to lay off more than 600 employees by the end of April. This round of cuts includes C-suite executives and brings the total number of people affected in California since the acquisition to nearly 700. Authentic Brands Group specializes in acquiring struggling brands and converting them into licensing models, aiming to return them to profitability. Boardriders’ portfolio includes popular brands such as Quiksilver, Billabong, Roxy, and more. Since the acquisition, Authentic has secured licensing deals for these brands with companies like BBC International and Centric Brands. With a portfolio of over 50 names in the lifestyle and entertainment space, including Eddie Bauer, Frye, Reebok, and Nautica, Authentic continues to reshape the industry.

Factuality Level: 3
Factuality Justification: The article contains relevant information about Boardriders’ acquisition by Authentic, the layoffs, and the restructuring efforts. However, it includes some unnecessary details about Authentic’s business model and other brands owned by the company, which are tangential to the main topic. The article also includes quotes from company executives that may present a biased perspective on the layoffs and restructuring.
Noise Level: 3
Noise Justification: The article provides relevant information about the acquisition of Boardriders by Authentic, the layoffs as part of restructuring efforts, and the impact on employees. It includes quotes from company executives and details about the licensing deals. However, some information is repetitive and could be consolidated for clarity.
Financial Relevance: Yes
Financial Markets Impacted: The acquisition of Boardriders by Authentic may impact the financial markets and companies involved in the lifestyle and entertainment space, including the brands owned by Boardriders such as Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Honolua, and Boardriders’ namesake brand.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to financial topics as it discusses the acquisition of Boardriders by Authentic and the restructuring efforts, including layoffs, within the company. However, there is no mention of an extreme event or its impact.

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