Walmart Paid $300 Million For Bonobos. Two Years Later, The Men’s Fashion Brand Is Laying Off Staff.

by MR Magazine Staff

Online menswear brand Bonobos laid off dozens of employees on Monday amid a broader push by its parent company Walmart to rein in e-commerce losses. A spokesperson would not say exactly how many jobs were cut or what prompted the layoffs, and she wouldn’t answer whether the affected employees worked in corporate roles or in Bonobos’s 60-plus retail locations in the US. She said Bonobos has around 600 employees, which includes those who work in the company’s stores. “Today we made the difficult decision to part ways with valued members of the Bonobos team,” the spokesperson said in a statement. “These decisions are not taken lightly, but we believe they are necessary to set the brand and business up for long-term success.” Read more at Recode.