Stride Rite cuts 120 jobs

LEXINGTON – Stride Rite Corp. announced that it had cut 20 percent of its administrative workforce or 120 jobs in view of an eight percent reduction in earnings in the third quarter and anticipated fourth quarter losses. The maker of Keds sneakers and children’s shoes employs about 2,400 people, including the employees at its 212 retail stores. The company also makes Tommy Hilfiger and Sperry footwear. About 75 of the jobs cuts were in its headquarters here.