- Online personal styling service Stitch Fix ( NASDAQ: SFIX ) is laying off 20% of its salaried workforce, The Wall Street Journal reported on Thursday .
- The announcement was made in conjunction with CEO Elizabeth Spaulding's departure news. Spaulding, joined the company in 2020, will be stepping down effective immediately.
- Founder and former CEO Katrina Lake has been named interim CEO, also effective January 5, 2023, for six months or until her successor is appointed.
- Stitch Fix ( SFIX ) will also be shutting down its Salt Lake City distribution center.
- Shares of the company gained 4% in Thursday's trading after the announcements.
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Stitch Fix trims 20% of salaried workforce