Rent the Runway said it would reduce its corporate workforce by 24%, primarily through layoffs, as the fashion-rental service adjusts to a slowdown in consumer spending and shifts from shopping habits adopted earlier in the pandemic.

The New York City company on Monday didn’t specify the total number of jobs affected. It had 958 full-time employees and 138 part-time employees as of Jan. 31, according to securities filings.

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

A far-right nationalist looks likely to become Italy’s first female prime minister

A short speech defending the role of the family has become Giorgia…

The subversive power of JoJo Siwa’s ‘Dancing With the Stars’ success

If you had asked me pre-pandemic if JoJo Siwa, the bow-loving merch…

Biden to propose 20-year ban on oil and gas drilling around Chaco Canyon

WASHINGTON — President Joe Biden on Monday plans to propose a 20-year…

Whose Workers Are Most Essential? Big Industries Vie for Vaccine Priority

Airline industry groups and unions have written to the Centers for Disease…