Tuesday, October 8, 2019

Walmart reduces Bonobos headcount

Chain Store Age
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