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Anyway, if we haven’t met before, hello! I’m Shoshy Ciment, junior reporter here on the retail desk. I’ve been pretty swamped with sneaker-related news in anticipation of All-Star Weekend (more on that later) but there’s a lot more going on outside of sportswear and athletics in the retail world this week.
Here’s everything you need to know:
Layoffs at Wayfair, Kohl’s, and Walmart’s Jet Black
This week was filled with layoffs at retailers across the board.
Kohl’s is laying off about 250 employees, which includes an entire “layer” of regional store leadership. The company said the reorganization comes “from a position of financial strength,” and no store closures were announced.
Wayfair confirmed to Business Insider on Thursday that it would be laying off more than 500 employees, or 3% of its global workforce. The company’s CEO sent an email informing employees on Thursday morning.
Finally, Walmart is shutting down Jet Black, its New York City-based, members-only shopping service, on February 21. A Walmart spokesperson confirmed to Business Insider that 293 of the over 350 jobs with the service would be cut.
What does it all mean? It’s a scary time for retail workers, even at companies that seem to be bucking the trend of mass store closures.
Revolutionizing Retail: A series from Business Insider
The retail desk at BI put together a series on the companies, trends, and technologies revolutionizing retail. We covered everything from AI to the Amazon impending takeover of the grocery industry.
Here were some highlights:
Hayley spoke to Stephenie Landry, Amazon’s vice president of grocery delivery, about how the e-commerce giant is poised to take over grocery. Bethany wrote about how the retail apocalypse has turned stores into places for shoppers to take a “vacation from reality.”
Plus, I interviewed Phil Raub, president of B8ta, whose company …read more
Source:: Business Insider