REI Cuts 275 Jobs
October 16, 2023
Portland Press Herald
Seattle-based outdoor retailer REI has cut 275 retail positions, including 19 in Washington state, which equates to 2% of its national workforce, as part of a wider restructuring plan. The move reflects the company’s attempt to change its brick-and-mortar business model, with a focus on modernizing out-of-date areas that no longer serve its employees or business mission. The job losses predominantly impact employees in “lead” positions, though many of these individuals are expected to transition to other roles within the company. Despite the layoffs, REI anticipates nearly 1,300 openings for new roles and holiday hiring for the rest of the year. In addition to job cuts, the company plans to enhance scheduling transparency and hour predictability, and introduce new store leadership and staffing models.
Recent News
-
Brands Embrace AI to Revolutionize Customer Experience
In a bid to enhance customer interactions and reduce the drawbacks of live customer service, brands are turning to AI solutions, from chatbots to innovative food delivery robots. Home Chef, a meal-kit-delivery service, employs the virtual assistant Herb to streamline…
-
Tesla’s Growth Slowdown Sends Warning Signals to Electric Vehicle Industry
Morgan Stanley analyst Adam Jonas suggests that Tesla’s recent tempered growth expectations indicate potential challenges for the broader electric vehicle (EV) industry. Following Tesla’s disappointing third-quarter results and cautious earnings call, Jonas believes there’s a ripple effect across the EV…
-
Housing Market Faces Continued Affordability Crisis as Mortgage Rates Near 8%
The housing market in the United States is witnessing its most challenging phase in years, with mortgage rates inching toward 8% and prices soaring for three consecutive months. Data reveals that September experienced the lowest housing sales in 13 years….
-
Elon Musk’s X Plans New Paid Subscriptions Amid Reports of Declining Web Traffic
Elon Musk’s X is set to introduce two new subscription tiers despite reports of a significant decline in web traffic. The Tesla CEO shared on X that one tier would be lower cost with all features but no ad reduction,…
