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the-wall-street-journal:-l-brands-plans-to-slash-15%-of-its-corporate-workforce
the-wall-street-journal:-l-brands-plans-to-slash-15%-of-its-corporate-workforce

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The Wall Street Journal: L Brands plans to slash 15% of its corporate workforce

The Wall Street Journal

Latest restructuring move seeks to save $400 million a year

A closed sign is seen in a Victoria’s Secret store in Chicago in March.


Getty Images

L Brands Inc. said it plans to lay off about 850 corporate employees, or about 15% of the jobs at its home office, the latest restructuring at the embattled retail company.

The company, which owns the Victoria’s Secret and Bath & Body Works chains, said it would save about $400 million a year from the layoffs and other cost-cutting measures, such as cutting back on inventory and closing stores.

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