American make-up subscription service Birchbox will cut 15 % of its jobs, while it will also halt all Canadian activities. These moves should help the company return to profitability.
“Market demands profit”
Some 45 jobs, out of the 300, will be cut. “The cuts made today will allow us to reinvest in our biggest opportunities and grow even more quickly in the future”, Birchbox’ co-founder and CEO, Katia Beauchamp, told Bloomberg. “Our vision for Birchbox has always been to build a standalone company, and today’s market demands that we reach profitability this year.”
Birchbox, founded in 2010 as a subscription service, now also has physical stores in New York and Washington. It is also present abroad, in the United Kingdom, France, Spain, Belgium and Canada, although it will pull out of this market soon.
