L Brands, which owns brands like Victoria’s Secret, is to cut about 200 jobs as part of a restructuring plan.
Streamline the company
L Brands wants to consolidate its Pink and Victoria’s Secret brands in the future, which means several positions will overlap and therefore disappear. L Brands’ founder and owner, Leslie H. Wexner, wants to simplify the company’s inner workings. In that regard, he recently became Victoria’s Secret CEO, after former CEO Sharen Jester Turney decided to leave the company.
Turnover from the online and catalog sales will be added to the stores’ sales and the goal is to give customers a more streamlined shopping experience, enabling mobile, online and in-store sales.
