Bath & Body Works to cut 130 jobs in cost-cutting move – The Columbus Dispatch

by | Aug 17, 2022 | Jobs

Bath & Body Works is laying off 130 workers, most of them in leadership positions, as part of a cost-cutting move, the retailer said Wednesday.The layoffs are the latest job cuts by a Columbus company, including its former sister company, Victoria’s Secret, along with OhioHealth, Olive and auto insurance company Root.”As part of efforts to better position the organization for long-term growth and create organizationalefficiencies, the company recently simplified and realigned its operating structure,” the retailer said. “These actions included the elimination of about 130 roles, the majority of which were leadership positions.”Bath & Body Works expects the cuts to save about $30 million in the back half of the year, not counting severance and other charges of about $6 million in its third quarter related to the organizational changes.Victoria’s Secret said last month it was laying off 160 mostly management workers at its corporate offices in Reynoldsburg while OhioHealth said it was eliminating 637 jobs as part of a push it says is necessary to improve patient care. Meanwhile, tech company Olive laid off 450 workers and Root slashed 330 jobs at the beginning of the year.Bath & Body Works and Victoria’s Secret were once part of L Brands. They separated into two companies a year ago.The company posted revenue of $1.6 billion for the quarter that ended July 30, down 5% from a year ago, but up 45% from the second quarter of 2019, the company reported Wednesday. The company posted profit of $120 million, or 52 cents per share, for the …

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