REI announces job cuts of 357 employees, including 200 at headquarters, due to declining sales and lower 2024 revenue expectations.

REI announced it will lay off 357 employees, citing financial necessity and a strategic approach to evaluating team structures against business needs. The layoffs represent 2.2% of REI's total workforce and will impact various departments, including headquarters, sales and customer support, and distribution centers. No non-headquarters store-specific roles will be affected. The company's CEO, Eric Artz, emphasized that every employee whose job is eliminated will receive separation benefits, including severance, COBRA, and outplacement support and services.

January 25, 2024
28 Articles

Further Reading