Privately held retailer J. Crew announced on Tuesday that it is reorganizing the company as part of its efforts navigate its way through a difficult retail sector. As part of the reorganization 250 positions making up 150 full time positions and 100 open positions will be cut.
Company COO and CFO Michael Nicholson will also be assuming responsibility of the J. Crew brand, including planning and allocation, merchandising, marketing, and design functions.
"We have an incredibly talented team of passionate leaders and will further leverage their strengths and talents as we continue to focus on making critical improvements in our business," company CEO Millard Drexler said.
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