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Jos. A. Bank laying off 122 at Hampstead headquarters

Jos. A. Bank is laying off 122 employees  at its Hampstead headquarters by the end of the year, the first significant local job reductions since the men’s clothier was acquired by rival Men’s Wearhouse last year.

The layoffs, which will take place between May 29 and the end of the year, were disclosed to the state Department of Labor, Licensing and Regulation.

The notice to the state indicated that employees working out of an adjacent distribution center and tailoring service will not be affected.

Bank’s 6.6 percent sales decline in the 4th quarter of 2014 had depressed Men’s Wearhouse year-end numbers, but the company has expressed satisfaction with how Bank was being integrated into the overall company and optimism that sales will pick up.

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