Hanesbrands Inc. (HBI) announced Wednesday it will cut 5,300 jobs and close nine sewing and assembly operations in five countries.

The underwear and apparel maker will close plants affecting nearly 5,000 employees in Canada, the United States, Mexico, the Dominican Republic and Puerto Rico as it moves production to lower-cost operations in Asia and Central America.

Another 350 management and administration positions also will be cut.

The Winston-Salem-based company said the closings are a part of an ongoing restructuring effort to make its business leaner and more profitable. The restructuring will cost approximately $42 million, the company said.

"These efforts are a competitive necessity to strengthen our overall company and its growth opportunities, but we regret that employees will be affected by losing jobs," said Hanesbrands Chief Executive Richard Noll.

The bulk of the layoffs will be in the Dominican Republic, where 2,500 jobs will be eliminated, and in Mexico, where about 2,200 workers will lose their jobs.

Another 70 jobs will be eliminated at the U.S. plant in Statesville, N.C.

Since its spinoff from Sara Lee Corp. (SLE) last year, Hanesbrands has announced the closing of nearly a dozen manufacturing facilities in the Dominican Republic, Mexico, Puerto Rico and the United States.

Hanesbrand shares rose 3 cents to $26.52 in morning trading.