At least 10% of Levi Strauss's global corporate workforce will be cut in a restructuring plan.

• Up to 15% of Levi Strauss's global corporate staff may be let go.
• The company announced that job cuts will occur in the first half of the year.

The apparel retailer announced on Thursday that it will lay off at least 10% of its global corporate workforce as part of a restructuring, and it expects weaker sales this year.

Up to 15% of Levi's corporate employees could be affected by job cuts in the first half of the year, the company announced. As of November, Levi's had more than 19,000 employees, but the exact number of employees in corporate offices is unknown.

The restructuring charges that the company announced, which are expected to range from $110 to $120 million in the first quarter, coincide with a trend of early year layoffs in the retail industry and among public companies, as Macy's and Wayfair both recently announced job cuts.

As the company announced its fiscal fourth-quarter earnings and forecasted a weaker-than-expected fiscal year ahead, it also announced a cost-cutting push. This push comes as Michelle Gass, Levi's President, is expected to succeed Chip Bergh as CEO on Monday.

According to analyst estimates compiled by LSEG, formerly known as Refinitiv, the reported earnings of Levi's differed from what Wall Street had expected.

• Earnings per share: 44 cents adjusted vs. 43 cents expected
• Revenue: $1.64 billion vs. $1.66 billion expected

The company forecasted revenue growth of 1% to 3% for the fiscal year, below the anticipated 4.7% by Wall Street. Meanwhile, Levi's projected earnings per share of $1.15 to $1.25, lower than the analysts' expectations of $1.33.

The net income for the three-month period ending November 26 was $126.8 million, or 32 cents per share, compared to $150.6 million, or 38 cents per share, in the same period a year ago. Additionally, revenue increased by 3% to $1.64 billion.

The company’s shares rose about 4% in trading Friday.

During the quarter, inventory levels decreased by 9% compared to the previous year, while wholesale revenue experienced a slight 2% decline.

The denim retailer Beyond Yoga experienced a 14% increase in revenue in its specific segments. In an effort to gain a larger share of the athleisure market, the company appointed former Athleta CEO Nancy Green as its new chief executive earlier this month.

The company’s other brands segment saw net revenue fall 11%.

The San Francisco 49ers stadium's naming rights deal with Levi's was renewed for 10 years and $170 million.