StitchFix CEO steps down, 20% of salaried workforce to be cut

StitchFix CEO steps down, 20% of salaried workforce to be cut


Katrina Lake, CEO of Stitch Fix

Adam Jeffery | CNBC

StichFix founder Katrina Lake on Thursday announced the company will be cutting 20% of its salaried workforce and that she will reassume her post as CEO.

The brand’s current CEO Elizabeth Spaulding, who joined the company in 2020, will be stepping down effective immediately.

“I will be stepping in as interim CEO and leading the search process for our next CEO,” Lake said in a news release.

“Despite the challenging moment we are in right now, the board and I still deeply believe in the Stitch Fix business, mission and vision.”

StitchFix will also be closing their Salt Lake City distribution center.

Shares of the company were up more than 4% in morning trading after the announcements.

This story is developing. Please check back for updates.



Source

‘Stranger Things’ ushered in a new era for Netflix
Business

‘Stranger Things’ ushered in a new era for Netflix

Noah Schnapp, Caleb McLaughlin, Finn Wolfhard and Gaten Matarazzo star in Season 5 of Netflix’s “Stranger Things.” Courtesy: Netflix The original concept for what would become “Stranger Things” was rejected by more than 15 studios before landing a spot on Netflix’s roster of original programming. A decade later, the show created, written and directed by […]

Read More
Disney’s ‘Zootopia 2’ to hit billion box office, only the second Hollywood film to do so this year
Business

Disney’s ‘Zootopia 2’ to hit $1 billion box office, only the second Hollywood film to do so this year

Disney’s “Zootopia 2” follows detectives Judy Hopps and Nick Wilde find themselves on the twisting trail of a mysterious reptile who turns the mammal metropolis of Zootopia upside down. Disney The Walt Disney Company tallied its second billion-dollar film of 2025 with the help of a determined bunny and mischievous fox. “Zootopia 2” is set […]

Read More
Rivian’s AI, autonomy impress Wall Street, but EV and capital concerns remain
Business

Rivian’s AI, autonomy impress Wall Street, but EV and capital concerns remain

Rivian CEO RJ Scaringe at the company’s first “Autonomy and AI Day” on Dec. 11, 2025, in Palo Alto, California. Lora Kolodny | CNBC Rivian Automotive impressed Wall Street on Thursday with its plans for artificial intelligence, automation and an internally developed silicon chip, but significant challenges involving demand and capital remain for the electric […]

Read More
Powered by WordPress | WP Magazine by WP Mag Plus