COLUMBUS, Ohio (WCMH) – Bath & Body Works, a common mall staple headquartered in central Ohio, announced Thursday that it would be laying off dozens of members of its staff.
The company is eliminating “about 130 roles,” the majority of which were leadership positions, a spokeswoman said. Bath & Body Works made the cuts after it reported dropping income compared with the same time last year. It made $120 million in net income in 2022’s second quarter, which is around $95 million less than its earnings in 2021.
The layoffs will be included in a series of initiatives including “organizational changes, additional cost control actions and merchandise margin improvement opportunities,” according to Bath & Body Works’ quarterly earnings report. The company expects to save $30 million in the last half of 2022 with this course of action, but that doesn’t factor in the severance pay it will give in the layoff process. It predicted it will pay out $6 million in severance and other charges related to the organizational shakeup, meaning those savings could drop to around $24 million.
Bath & Body Works is headquartered in Columbus, and previously reported a major jump in sales in 2021. It raked in $1.70 billion in sales in that year’s second quarter, beating out numbers in 2020 and 2019 as well. Still, its CEO Andrew Meslow stepped down in February 2022 and Sarah Nash took over beginning in May.