COLUMBUS, Ohio — Bath & Body Works has announced that it will be cutting about 130 jobs, most of which are leadership positions, after a recent decrease in sales.
The company reported a decrease of 5% in the second quarter of 2022 compared to net sales in the second quarter of 2021.
Bath & Body Works said these job cuts are part of efforts to better position the organization for long-term growth and improve financial performance.
“We are leveraging the dynamic environment to better position ourselves to capture new opportunities and drive future growth. While we are taking aggressive action to control costs and improve overall efficiencies, we remain focused on customer-facing investments, including the upcoming launch of our loyalty program throughout the U.S.," said Sarah Nash, Executive Chair and Interim Chief Executive Officer.
The company said that doing this will result in estimated savings of about $30 million in the second half of 2022.
“The business continues to perform at levels significantly above pre-pandemic and our team is effectively navigating the challenging environment and inflationary pressure affecting our customers and our business,” Nash said.