A feminine products brand now announces unexpected layoffs in the state of New York according to the latest WARN filings.
Thinx is joining a growing list of retailers commencing layoffs at the start of the year, reports RetailDive.
The period care brand will lay off 95 employees, according to a WARN notice filed Tuesday in the state of New York.
Layoffs are expected to take place on May 1st.
The notice cited “merger” as the reason for the layoff and “plant layoff” for the reason for the filing.
The brand has not responded to requests for commenting.
Several other retailers and brands have turned to layoffs as a way to cut costs, reports RetailDive.
Levi’s last week announced it would lay off as much as 15% of its workforce, with a goal of achieving long-term profitable growth.
Wayfair earlier this month said it would cut a whopping 1,650 jobs, or about 13% of its global workforce, marking the third job cut since the summer of 2022.
And REI said 357 employees will be laid off in its third restructuring round in less than 12 months.
Retail jobs cuts last year were the highest in the industry since October 2020, according to a report from Challenger, Gray & Christmas.
Retailers announced 72,182 job cuts through October last year, a 258% increase from the year before, per the report.
The Thinx layoffs come after Kimberly-Clark acquired a majority stake in the company in 2022.
At the time, the companies said the investment would be used to support the brand’s DTC channels and drive growth for Kimberly-Clark’s retail partners.
Kimberly-Clark had initially made a minority investment in Thinx back in 2019.
Shortly after the deal, Thinx in May 2022 announced former Johnson & Johnson executive Meghan Davis would replace Maria Molland as its CEO.
In recent years, the brand has been working to expand its product offerings.
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Also Read: A Home Improvement Retailer Now Closes All 157 Stores
Other Economy News Today
A retailer with 507 locations will now close its anchor store after 45 years with liquidation sales underway, sources report.
Macy’s is permanently closing another of its 507 remaining nationwide department stores, The-Sun reports.
Liquidation sales are underway and will last eight to twelve weeks.
Macy’s has announced the closure of its store at Tallahassee’s Governor’s Square Mall in Florida.
A final date has not yet been shared, although it is expected to close in early spring, as per local station WCTV.
Macy’s is an anchor store of the mall and has been there in one form or another since 1979.
It originally opened as Maas Brothers, converting to Burdine’s in 1991, and then Burdine’s-Macy’s from 2003 to 2005, and has been just Macy’s ever since.
“The decision to close a store is always a difficult one, but Macy’s is grateful to have served our customers and the community,” a spokesperson told WCTV.
A clearance sale is currently underway and is expected to last eight to twelve weeks.
Once the Tallahassee store is gone, the nearest Macy’s in Florida will be over 180 miles away in Ocala.
Approximately 40 store employees have been affected by the closure, reports The-Sun.
Many shoppers in the state capital were disappointed to hear that their local store is closing down.
“Sad to see the decline of a one-time retail leader,” wrote one on X.
“I’ll miss the Tallahassee store!” posted another.
The Tallahassee store is one of five locations affected by the latest round of store closures announced by Macy’s.
A total of five stores are being shuttered as the company transitions to a new CEO, former Macy’s president Tony Spring.
The other four locations to close are in Arlington, Virginia; San Leandro, California; Lihue, Hawaii; and Simi Valley, California.
Macy’s has closed 100 stores since 2020, many of which were located in shopping malls.
Also Read: SNAP Benefits Will Now Increase For The Year 2024
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