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Victoria's Secret & Co announced on Tuesday this week that it will slash management roles in the company, and around 160 workers are affected. This is said to be equivalent to five percent of the company's workers, including the home office staff and a former Amazon executive that was previously hired.
The job layoffs are necessary as the firm merges its three businesses to form just one organization. The three divisions affected by the reorganization are PINK, Victoria's Secret, and Pink Beauty.
As per Reuters, along with the announcement of job cuts, Victoria's Secret also revealed it has appointed three executives for key leadership roles. They will be directly reporting to the company's chief executive officer, Martin Waters.
The PINK brand has been led by Amy Hauk since 2018, and she is set to take on an additional role in the company as Victoria's Secret unit's chief executive officer. The firm said via an email that its Beauty division would then be integrated into her organization.
Christine Rupp has been given the role of chief customer officer. Prior to becoming part of Victoria's Secret, she worked for Albertsons Cos Inc., Microsoft Corp., and Amazon.com Inc. At Amazon, Rupp was responsible for the launch of Amazon Prime Day and led the e-commerce firm's Fulfillment by Amazon.
The third executive to be appointed in Victoria's Secret restructuring is Greg Unis. He is now the new chief growth officer, but he has been with the company since 2016 as part of PINK Beauty and VS.
"Over the last year, we have progressed a thoughtful revolution of our business by redefining the VS brand and rebuilding our strategy for growth. We can now better connect with and represent our millions of customers around the globe," Victoria's Secret & Co.'s CEO said in a press release regarding the reorganization. "As a result, we have more relevant brand positioning, more compelling merchandise assortments, and a more inclusive culture that celebrates our people."
He added, "With our brand revolution well underway and gaining momentum, now is the time to reimagine our leadership structure to better align with a shifting consumer landscape and become more efficient as an organization."
