Wolverine Worldwide Implements Workforce Restructuring and Asset Sales to Combat Revenue Decline

Wolverine Worldwide, the Rockford-based footwear maker, announced a "global workforce restructuring" as part of its efforts to transform the company and stabilize the business. The restructuring includes creating new teams, consolidating structures, and implementing advanced digital tools. The company reported third-quarter earnings of $8.6 million, meeting expectations, and posted revenue of $527.7 million, surpassing forecasts. Wolverine recently sold off several assets and is exploring strategic alternatives for the Sperry brand.