HanesBrands announced earlier this week that it has laid off an unspecified number of employees at the Winston-Salem location. While the apparel manufacturer did not disclose how many local employees were affected, it did note that the cuts are a result of current financial and sales challenges.

The announcement precedes the company’s expected fourth-quarter financial results. HanesBrands states that prior to the investment conference call on Feb. 2, it will issue a news release disclosing financial results for the quarter ended Dec. 31, 2022.

“We continue to operate in a very challenging environment, and we must focus on controlling costs as we continue to execute our Full Potential plan,” said HanesBrands in a media statement. “As a result, we made the difficult decision to eliminate a number of positions across our company. These are valued associates, and we thank them for their many contributions to HanesBrands.”

The announcement also coincides closely with the departure of the company’s CFO. HanesBrands expects to report fourth-quarter net sales slightly above the top of its outlook range and adjusted operating profit at the midpoint of the range.

The company isn’t the only big name experiencing layoffs in the current economic climate. 3M also expects to lay off approximately 2,500 employees in 2023. Even the mega-tech giant Google isn’t immune, experiencing one of the largest round of layoffs in company history recently.