According to Vox, Walmart laid off “dozens” of Bonobos’ approximately 600 employees on Monday, Oct. 7. It is not clear whether affected roles were in Bonobos’ corporate offices, 60-plus brick-and-mortar stores, or both.
Walmart purchased Bonobos for $310 million in 2017, as part of a larger push at the time to acquire e-commerce brands that appealed to younger, higher-income consumers. Other e-commerce brands purchased around the same time period included ModCloth and Jet.com.
Earlier this month, Walmart reached an agreement to sell ModCloth to GoGlobal Retail for an undisclosed sum.. . . more
