The online personalized subscription clothing retailer headquartered in San Francisco also said it was closing some operations, including its Salt Lake City distribution center.
The company named Lake as its interim CEO after announcing Spaulding's departure on Thursday. Spaulding joined the company in 2019 as president and became CEO in 2021.Lake said affected employees will receive health care coverage through April and at least 12 weeks of pay, which increases with tenure.
In June, 2022, Stitch Fix laid off 15% of its salaried staff - around 330 employees - amid slowing e-commerce growth across the retail sector.
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