J.Crew Group (New York) is cutting 150 full-time positions as well as eliminating 100 open positions, reports Women’s Wear Daily. The cuts will largely affect the company’s corporate headquarters and are part of an effort to save the company approximately $30 million annually.
At the same time, the company has reorganized its top management. President, Chief Operating Officer and Chief Financial Officer Michael J. Nicholson will additionally assume responsibility for the J.Crew brand, which includes merchandising, marketing and design functions.
Lisa Greenwald has been named chief merchandising officer of the J.Crew brand and will oversee merchandising over its women’s, men’s and crewcuts collections. Previously, she was senior vice president of merchandising.
Libby Wadle has been named president of the Madewell brand. She previously was president of the J.Crew brand.