The start of a new year can often mean restructuring and budget cuts for retailers.
Just this week, four retailers have announced layoffs.
On Thursday, Stitch Fix cut full-time stylist positions, and Macy's announced it is cutting jobs to streamline its operations. Then on Friday, Wayfair announced it's cutting 1,650 jobs and reviewing levels of management, while Amazon announced it is laying off less than 5% of its Buy with Prime staff.
Here are the companies that have had layoffs so far this year.
Macy's: The department store chain is cutting 2,350 jobs and closing five stores, Reuters reported. The layoffs affect 3.5% of the company's overall workforce.
Wayfair: The online furniture retailer announced it's cutting 1,650 jobs, or 13% of its workforce. The news came just weeks after CEO Niraj Shah said the company was profitable again.
Amazon: Amazon is laying off less than 5% of its workforce in the Buy with Prime unit, Reuters reported. The Buy with Prime program launched in 2022 to equip retailers with fulfillment and delivery services.
Stitch Fix: The clothing subscription company is eliminating its full-time stylist positions as of March 31 and moving to a "part-time only model" for the position, Retail Dive reported. The company also cut 10 "styling leader" positions.
