Wolverine World Wide has announced a restructuring plan to help weather the current economic problems. In addition to cutting 450 jobs, it plans to consolidate its European distribution operations into one facility and its North American centers into existing warehouses. While realigning its U.S. manufacturing operations to focus more on Bates military footwear, it will evaluate options for its own leather business, which could include closing a tanning facility in Michigan. The company expects the changes to involve pre-tax charges of $31 million to $36 million throughout 2009, but they should result in annualized pre-tax savings of $17 million to $19 million. Separately, Wolverine has bought Cushe, a British footwear brand launched in 2005 that currently sells fewer than 100,000 pairs annually (more in Shoe Intelligence).