Fab.com, an online seller of design-inspired products, is expecting to make additional staff cuts on top of the already 101 employees that were let go last month. The New York-based e-tailer said that it would be announcing the layoffs later this week.
"With regards to the rumors [of more layoffs], it is accurate that Fab is undergoing management changes as we realign the business to execute on our 2014-2017 plan," the company said in a statement, reports Forbes. "There will be a number of management changes involved as we streamline the organization and move to a category P&L [profit and loss] based structure."
The company's COO Beth Ferreira, a former Etsy executive, was let go last Thursday, Nov. 7, shortly following the departure of the company's co-founder Bradford Shellhammer on Nov. 1.
The additional downsizing follows a round of layoffs last month that eliminated 101 positions, or about 19 percent of the staff. As the company shifts away from flash sales — selling limited amounts of goods in bursts — and toward an inventory model that requires more merchandising expertise, the company says the job cuts are part of a neccessary restructuring.
For more see:
-This Forbes article
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