Stitch Fix to cut workforce by 15% of salaried roles

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Decades-high inflation and the impact of the war in Ukraine have pressured Corporate America to consider laying off people or put a freeze on hiring.

The layoff at Stitch Fix accounts for nearly 4% of the roles, or around 330 positions in total, with most of them in its non-technology corporate and styling leadership roles, Chief Executive Officer Elizabeth Spaulding said.

“(The decision) was one we needed to make to position ourselves for profitable growth … There will be tough choices along the way, and this is one of those,” Spaulding wrote in a message to Stitch Fix employees.

Shares in Stitch Fix were down nearly 11% in afternoon trading.