Express announces restructuring of corporate workforce
Youth-focused American fashion retailer Express, Inc. announced on Tuesday that it is beginning a corporate restructuring process in order to bring its organization in line with its go-forward strategy and drive long-term profitable growth.
Led by Express CEO Tim Baxter, who joined the company from Macy's in June 2019, the restructure will affect around 10% of the positions at the retailer’s Columbus, Ohio-based corporate HQ and its design studio in New York City.
Express’ field leadership will also be reorganized in order to enhance the efficiency of the retailer’s in-store operations and drive improvements in service and customer experience. Severance pay and benefits continuation will be provided for impacted associates.
“When I joined Express, I outlined three priorities: changing the trajectory of the business, developing a corporate strategy, and putting the right team in place,” explained Baxter in a release. “We have spent the past six months developing a strategy with the intent to return Express to long-term growth and a mid-single digit operating margin.”
“Today we took the necessary steps to put the right organization in place to support that strategy,” he added. “I would like to personally thank all of the impacted associates for their contributions to Express.”
Further details concerning the restructure will be provided by Express at an investor event due to be hosted at the New York Stock Exchange, at 8 AM on January 22, 2020.
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