Genesco (GCO) said Thursday it adopted a new information technology operating model to improve organizational scalability and speed.
The plan includes a partnership with a global tech provider to accelerate the implementation of artificial intelligence and automation, the company said.
The footwear retailer expects the transition to result in job losses within its IT unit as the new model is implemented in phases, Genesco said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.