Tainan Life Announces 21 Layoffs at Subsidiary Reebok Sports Amid Restructuring

(CNA, Taipei, May 21, by reporter Tseng Jen-kai) Tainan Life (Cayman) Co., Ltd. today announced a workforce adjustment plan on behalf of its 80%-owned subsidiary, Reebok Sports. According to the announcement, due to overall operational adjustments, Reebok Sports' board of directors has approved the mass layoff of 21 employees, which will be carried out in accordance with relevant labor laws and procedures. Tainan Life stated that in response to the operational adjustments, the group's subsidiaries or branches will prioritize re-hiring former Reebok employees to positions within the group, depending on their willingness. Tainan Life's main businesses include brand agency, apparel and footwear distribution, and shopping mall management. Its mall operations include Tainan's well-known cultural and creative Hayashi Department Store, and it also holds agencies for famous brands like FILA and Reebok. The news of the workforce reduction at Reebok Sports comes after Tainan Life just announced on May 7th that its board had approved a Reebok brand licensing agreement with the ABG Group. Tainan Life spokesperson Huang Chih-yuan stated that the Reebok business will be moved to another subsidiary or sub-subsidiary to establish a new team. The mission of the original Reebok Sports entity has concluded, and this is part of the group's internal organizational adjustment. (Editor: Chang Chun-mao) 1150521