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Abercrombie & Fitch Axes 150 Corporate Jobs

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Abercrombie & Fitch

Abercrombie & Fitch is the latest retailer to trim down its corporate fleet.

According to an Abercrombie & Fitch spokeswomen, the retailer let 150 employees at its New Albany Headquarters, The Columbus Dispatch reported. The news was announced to the 2,200 workers at the company’s corporate headquarters Wednesday.

The layoffs could be in response to the current retail environment, and Abercrombie & Fitch has said it aims to restructure its staff to better serve its digitally-oriented consumers and to foster omnichannel services.

The cuts follow the company’s recent financial troubles. For the third quarter ended Oct. 29, 2016, Abercrombie & Fitch’s net sales decreased 13 percent to $358.3 billion. The company’s total net sales also fell 7 percent to $531.4 million in the U.S. and decreased 5 percent to $290.3 million in global markets compared to 2015.

In December, Keybanc Capital Markets analyst Jessica Schmidt wrote a letter to Abercrombie & Fitch investors, which said, “While we have noticed some improvement in the Hollister banner, we expect issues at Abercrombie & Fitch to more than offset that.”

The company also shuttered some Abercrombie & Fitch stores this year due to poor performance, and more closures are expected in 2017.

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