REI Co-op reportedly will lay off eight percent of its headquarters staff in a move that President and CEO Eric Artz said addresses “uncertainty.”
“We have clear goals for the future of the co-op and are confident in our long-term strategies,” Artz said in a message sent to employees. It also was posted on the REI site. “But in the face of increasing uncertainty, we need to sharpen our focus on the most critical investments and areas of work to best serve our members and grow the co-op over the long term. We will need to make hard choices, and that will be the work ahead for all of us.”
In all, 167 employees, which make up less than 1 percent of the overall company headcount, will be laid off.
Artz stressed the need to “get the co-op back to profitability as quickly as possible,” explaining the layoffs will allow the company to “focus its resources on the company’s high impact areas.
“In the year ahead, we will align around a few vital strategic priorities to ensure we are making the best use of the co-op’s resources to serve members, customers and support our long-term goals,” the statement from Artz said. “This also means centering our work around the customer and member experience.”
The CEO told employees more details about the plan for the business will be released soon.
Photo by REI
