Hanesbrands Slashing Jobs

Hanesbrands (HBI Quote - Cramer on HBI - Stock Picks) set plans Wednesday to cut 2,185 jobs as it closes three North American plants and moves production overseas.

The Winston-Salem, N.C., underwear maker will close plants in Monclova, Mexico, Lumberton, N.C., and Marion, S.C., that primarily make fleece sweatshirts and pants, outerwear T-shirts, sport shirts and sheer hosiery.

Production will be moved to other company facilities, including those in the Caribbean basin and Central America.

The move will result in a $27 million first-half charge.