Headlines

Victoria’s Secret Cuts 160 Management Jobs

The lingerie brand is also reshaping its C-suite following its spinoff as an independent company

Published

2 years ago

July 14, 2022

VMSD Staff

Victoria’s Secret Cuts 160 Management Jobs — The latest "Store of the Future" by Victoria's Secret in Birmingham, Ala. Photography: Courtesy of Victoria's Secret & Co.

The latest “Store of the Future” by Victoria’s Secret in Birmingham, Ala. Photography: Courtesy of Victoria’s Secret & Co.

Victoria’s Secret & Co. (Reynoldsburg, Ohio) has cut 160 current management jobs, Reuters reports.

The dismissals amount to roughly 5 percent of the company’s home office staff. They come in the wake of the dissolution of L Brands (Columbus, Ohio) into Bath & Body Works Inc. and Victoria’s Secret & Co., which spun off into their own companies.

Victoria’s Secret is also reshaping its C-suite, according to the outlet.

Head of the company’s Pink beauty brand, Amy Hauk, will remain in her current role and also assume the position of Chief Executive for the Victoria’s Secret brand. Greg Unis, leader of Victoria’s Secret and Pink Beauty businesses since 2016, has been appointed to Chief Growth Officer.

Christine Rupp, formerly of Albertsons, will be appointed to Chief Customer Officer. Prior to Albertsons, Rupp worked for Microsoft and Amazon.

Through Tuesday, Victoria’s Secret shares have declined 34 percent since trading began in July 2021. The company estimates its reorganizing efforts will reduce costs by $40 million dollars on an annualized basis from the third quarter.

Read more at Reuters.