• From the Puget Sound Business Journal:
"Outdoor retailer REI is cutting jobs for the second time this year, citing a need to restructure its store model.
"Last week, the Seattle-area-based co-op told workers it would cut 275 retail jobs nationwide as it eliminates its store lead position. Of the jobs cut, 19 are in Washington, where the co-op operates 11 stores. REI employs a total of about 12,300 workers at its stores … The move comes less than 10 months after the co-op laid off 167 corporate employees, or about 8% of its headquarters workforce. At the time, CEO Eric Artz said the cuts were vital to bring the co-op back to profitability."
"Our current operating model for stores is more than a decade old," Mary-Farrell Tarbox, REI's vice president of stores, wrote in a message to employees. "While there are some things that we have done and continue to do extremely well, there are many areas that are out of date and no longer serving our employees or REI’s mission and business."
I wonder how many retailers have operating business models for their stores that are more than a decade old?