Express is reducing the size of its workforce.
The specialty apparel retailer announced a restructuring of its corporate workforce designed to “align its organization with the company’s go-forward strategy.” The initiative affects about 10% of the positions at the Express headquarters in Columbus, Ohio, and at its design studio in New York City.
In addition, Express said it is reorganizing its field leadership team to ensure that its 600 stores are operating in the most efficient manner while enhancing the level of service offered to Express customers. The company is providing impacted associates with severance pay and benefits continuation.
“When I joined Express, I outlined three priorities: changing the trajectory of the business, developing a corporate strategy, and putting the right team in place,” said Tim Baxter, CEO. “We have spent the past six months developing a strategy with the intent to return Express to long-term growth and a mid-single-digit operating margin. Today we took the necessary steps to put the right organization in place to support that strategy.”
In its most recent quarter, which ended Nov.3, Express reported a $3.1 million loss. Same-store sales fell 5%.
Written by admin
www.askwebman.com (askwebman.com) is a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.in.
In addition to askwebman’s participation in Amazon’s program, askwebman.com also participates in a number of other affiliate programs. That means when someone clicks on an affiliate link and purchases a product,askwebman.com receives a small commission.
This commission does not cost you anything, nor does it affect our judgement when it comes to selecting which products we showcase in our content.