Hr Library

Online pet products retailer Chewy lays off over 200 employees, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>The company will reportedly provide a minimum of one month's severance with additional weeks based on tenure</p>
The company will reportedly provide a minimum of one month’s severance with additional weeks based on tenure

The impacted roles were in HR, recruiting, data and business intelligence divisions, and included some directors and higher managers, including a vice president, reports TechCrunch, citing sources.

The company will reportedly provide a minimum of one month’s severance with additional weeks based on tenure.

Chewy confirmed the layoffs, saying as it heads into 2024, “we took the opportunity to consolidate some of our headcount and align our efforts into priorities which we believe will gain us the most significant customer wins and generate the highest business returns, to enable us to strengthen the company’s future”.

“This was a difficult decision that was carefully considered as part of our overall strategy and ongoing focus on becoming an ever more agile and disciplined company. We are grateful to our team members for their contributions and remain committed to supporting them during this transition,” a company spokesperson was quoted as saying.

In its recent fiscal third quarter earnings late last month, Chewy reported a revenue of $2.78 billion.

The company reported $10.1 billion in net sales in FY22. It boasts 20.4 million active customers.

“Coming out of the summer months, we are sensing a shift in consumer mindset toward being more discernible and, at the same time, with a higher willingness to consolidate their…


Click Here to Read more /Source link

Show More

Related Articles

Back to top button