Bellevue-based Eddie Bauer said today it has eliminated 123 corporate positions as it seeks to become profitable. Of those, 76 were in Bellevue...
Bellevue-based Eddie Bauer said today it has eliminated 123 corporate positions as it seeks to become profitable.
Of those, 76 were in Bellevue, 32 in Chicago and 15 in Columbus, Ohio, where Eddie Bauer has a distribution center. The retailer’s corporate staff now totals 624, down from 747.
The layoffs are part of a previously announced effort to cut up to $30 million in operating costs, said CEO Neil Fiske.
“This completes our pretty comprehensive reorganization of our staff,” he said. “Now our focus is on building the brand, improving our product merchandising and marketing, and getting this business growing again.”
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Eddie Bauer reported a loss of $16.4 million for the three months that ended Sept. 29, much narrower than its year-ago loss of $197.6 million.
Fiske took over as Eddie Bauer’s CEO in June, replacing Fabian Mansson. Fiske previously was CEO of Limited Brands’ Bath & Body Works unit.
Mansson gave up the top post at Eddie Bauer after investors rejected a $285 million buyout offer by two private equity firms in February.
Eddie Bauer shares closed Wednesday at $5.93, down 11 cents or 1.8 percent. At that price, the company has a total market capitalization of $182 million.
Amy Martinez: 206-464-2923 or email@example.com