https://www.wsj.com/articles/stitch-fix-to-lay-off-about-1-400-employees-in-california-11591053525?mod=mhp Most of the layoffs will take place in September and those affected will have the opportunity to relocate and stay with the San Francisco-based company. The online retailer said it will be hiring about 2,000 stylists in lower-cost locations like Dallas, Pittsburgh, Cleveland, Minneapolis and Austin, Texas, beginning this summer, and going through 2021.
It’s happening lol
What a shitty thing to do. This is probably one of the lowest things any company has done post covid. It’s completely lacking in empathy firing people and then hiring others for cheaper pay elsewhere
Thats true. It would have been better if they had a paycut
Empathy. It is a publicly traded company and WS cares about about bottom line
Good now y'all can quit the half-assing and support "Biden 2020" or even Black Lives Matter FULL TIME. Show your far left pals some love.
Oof. I really liked stitch fix eng
Eng unaffected. Only stylists in CA
Ah thanks
God knows if thats going to repeat for engineering as well and hiring from other places
What is a stitch fix?
This is great and a smart move. They will likely get subsidies from those cities and states for bringing jobs in. But, as we predicted, it’s happening.
What do we think will happen to the shares today?
Layoffs == stock goes up by default
This company is similar to trunk club. There is absolutely no reason to have "stylist" located in one of the most expensive cities in the US when their sole job is to basically build out wardrobes for customers.
What about engg? I gave a phone screen last month, i infact did very well but they rejected me. Wanted to know if they are doing it for engineering as well? That gives me some confidence that the role could have gone on hold
What was the level of difficulty on the phone screen?