Bath & Body Works cuts 130 positions, COO exit

Bath & Body works is in the middle of improving its financial performance and positioning the company for long-term growth, according to Executive Chair and interim CEO Sarah Nash. 

Initiatives Bath & Body Works is undertaking include “organisational changes, additional cost control actions and merchandise margin improvement opportunities,” according to the company.  

The retailer is expected to save around $30 million in the second half of 2022 due to the layoffs.  

The retailer is expected to save around $30 million in the second half of 2022 due to the layoffs.  

“While we are taking aggressive action to control costs & improve overall efficiencies, we remain focused on customer-facing investments, including upcoming launch of our loyalty program.” Nash said. 

Nash said that despite clients' ongoing worry from inflation, they are functioning better than pre-pandemic levels. Further they face competition from retailers like Target and Kohl's.

“Looking to the back half of year, we believe that our planned Fall & Holiday assortments are well-positioned to resonate with our customers & our inventories are clean and forward facing,” Nash said.