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Stitch Fix to cut 1400 California jobs, invest elsewhere
06 Jun '20
1 min read
Pic: Stitch Fix
San Francisco-based apparel retailer Stitch Fix Inc plans to cut up to 1,400 jobs in California and invest in other states where it would offer new roles to the affected. As it is getting increasingly expensive to operate in California, it plans to hire 2,000 stylists in other lower-cost locations like Dallas, Minneapolis, Pittsburgh, Cleveland and Austin.
The COVID-19 pandemic is not the reason for the strategic move, the company was quoted as saying by US media reports.
Stitch Fix, which uses algorithms and experts to ship personalised clothing selections to clients, currently employs about 5,100 stylists. Chief Executive Officer Katrina Lake said in a statement that the decision was ‘the right thing to do’ for the business.
The company will offer financial help to the stylists, including severance payments, bonuses, and extended healthcare. Most of the layoffs will happen towards the end of September.
The COVID-19 pandemic is not the reason for the strategic move, the company was quoted as saying by US media reports.
Stitch Fix, which uses algorithms and experts to ship personalised clothing selections to clients, currently employs about 5,100 stylists. Chief Executive Officer Katrina Lake said in a statement that the decision was ‘the right thing to do’ for the business.
The company will offer financial help to the stylists, including severance payments, bonuses, and extended healthcare. Most of the layoffs will happen towards the end of September.
Fibre2Fashion News Desk (DS)
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