AUGUST 21, 2023 — 150 EMPLOYEES TARGETED
The company has announced a major workforce reduction to reduce costs and improve operating efficiencies. The workforce reduction, which is being implemented as part of a plan of strategic cost reduction actions will impact approximately 150 employees and is expected to be completed by the end of the third quarter of fiscal 2023.
According to CEO Tim Baxter, ““As we transform EXPR to create shareholder value, we are committed to driving long-term profitable growth and delivering positive free cash flow in our core Express business. We are conducting a comprehensive review of our business model to identify actions that we believe will meaningfully reduce pre-tax costs and enable a more efficient and effective organization.”
DECEMBER 18, 2020 — Original post
Columbus, Ohio-based Express, Inc., a fashion retailer targeting young adults, has announced a 10% reduction in force of its Columbus corporate staff.
Express CEO, Tim Baxter, noted, "Further reducing our workforce was a difficult decision, but was appropriate to calibrate the organization to capabilities of this new operating model."
"We have effectively managed that which was within our control, and as I look ahead, I am optimistic about our ability to deliver improved results and cautious about the continued uncertainty brought about by the current environment. Our streamlined go to market process and the implementation of our new inventory planning and management systems have already improved our efficiency and enabled us to operate with greater speed and agility."
This is the second layoff this year. In January,the company eliminated 10 percent of positions at its Columbus headquarters and its design studios in New York City and said it would close about 100 stores by 2022. At the time, the company noted it was “restructuring its corporate workforce to align its organization with the company’s go-forward strategy and to 'ensure the stores are operating in the most efficient manner.'”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?