L.L. Bean debates dropping free shipping

L.L. Bean plans to ultimately reduce its staff by 500 employees. Credit: P. Maillet (CC BY 2.0)

L.L. Bean is talking about freezing pensions, offering voluntary early retirements, and changing previously lax shipping and return policies as a way to cut the company's costs. The retailer plans to ultimately reduce its staff by 500 employees through incentives, according to changes announced by CEO Steve Smith in a memo and in meetings with workers last week. The changes have been in the works for awhile. In 2015, sales were flat and the five years prior were slow. The goal is to return L.L. Bean to the strong growth levels it saw in the 1980s and 1990s. (Chicago Tribune)


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