Victoria’s Secret owner L Brands to cut 15% of corporate workforce

Victoria’s Secret owner L Brands to cut 15% of corporate workforce

Victoria’s Secret owner L Brands said Tuesday it is preparing to cut 15% of its corporate workforce, or about 850 jobs, in a bid to trim costs as its business takes a hit from the pandemic. The company says the layoffs are part of a wider cost-cutting effort that will result in $400 million in annualized savings, $175 million of which will be achieved in fiscal year 2020.

Sandra
Sandra
Dank Duck
Dank Duck 1 weeks

Fashion corporate is a nightmare to work in. The culture is the most toxic you can find. It is all outwardly nice and koombaya but everyone is on anti depressant and borderline and stabbing everyone else in the back. Those let go are given a blessing in disguise.

Top in Business
Get the App