J. Crew has cut about 40 staffers in its corporate headquarters, or less than 3% of employees, according to a report in WWD.
In a statement to FN, a company spokesperson confirmed that cuts were made though did not disclose the number of people laid off.
“We have conducted a comprehensive review of our organization and made decisions to support efficiency and long-term growth,” the employee. “Part of this initiative has been making organizational changes and streamlining functions which has impacted a limited number of roles. We are confident these changes will enable us to further invest in our brands and our people with increased focus on performance, collaboration, and productivity.”
With this news, J. Crew joins the growing list of retail companies cutting staff. Since the start of 2023, REI, Amazon, Bolt, Everlane, Kohl’s, Saks and more retail and technology companies have announced major cuts across their workforces.
Just last week, Walmart let go hundreds of employees in centers located in New Jersey, Texas, California, Florida and Pennsylvania, according to a report from Reuters, which said the cuts came from a reduction in evening and weekend shifts.
J.Crew, which is celebrating its 40th anniversary this year, is currently undergoing a new campaign to reinvent itself, led by CEO Libby Wadle. Parent company J. Crew Group, which also operates Madewell and Crewcuts, filed for bankruptcy in 2020 and emerged with Anchorage Capital Group LLC as majority owner.