55. Express, Inc.
How Many Stores Closing: 150 Jobs (Store Closures TBD)
Current Value of the Business: $16.07 million market cap*
Express, Inc. aims to cut 150 positions by the end of Q3 to attain $200 million in yearly cost savings by 2025, as per its initial second-quarter financials. CEO Tim Baxter stated $80 million in cuts for 2023 and $120 million for 2024 have been pinpointed and enacted.
These job cuts are poised to save around $30 million, aiding Express’s mission to refine operations and boost its financial health. The impact of these cuts on potential store closures, however, remains uncertain.
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