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in Tech

Stitch Fix plans 20% job cuts as CEO steps down, founder Katrina Lake to reassume post

by Editor January 5, 2023, 10:51 pm 1.6k Views

Stitch Fix plans 20% job cuts as CEO steps down, founder Katrina Lake to reassume post

Katrina Lake, CEO of Stitch Fix

Adam Jeffery | CNBC

Stitch Fix founder Katrina Lake on Thursday told employees the company will be cutting 20% of its salaried workforce and she will reassume her post as CEO as the fledgling apparel company continues to grapple with low sales, a dwindling customer base and a reduced market cap.

The brand’s current CEO, Elizabeth Spaulding, who joined the company as president in 2020 and took over as CEO in August…

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