Victoria's Secret is losing another top exec and laying off about 50 people from headquarters as it attempts to recover from controversy and slowing sales
- A longtime Victoria's Secret executive is stepping down, CNBC reported on Thursday.
- April Holt was the head of stores at Victoria's Secret and had worked with L Brands, the store's parent company, for more than 16 years, according to CNBC.
- The announcement comes amid a series of issues for the brand over the last year, including multiple high-profile departures, slowing sales, and store closures. An internal company memo shared with Business Insider in August announced that Ed Razek, the chief marketing officer of Victoria's Secret's parent company, L Brands, would be stepping down.
- Victoria's Secret is also laying off 50 people from its corporate headquarters in Columbus, Ohio, The New York Times reported on Thursday.
- "We're on the all-important journey to turn around the Victoria's Secret business," L Brands spokeswoman Tammy Roberts Myers told the New York Times. "As we've said, everything is on the table including having the right talent in the right places."
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Victoria's Secret is losing another executive and laying off about 50 employees.
April Holt, the head of stores at Victoria's Secret, is stepping down after 16 years of working with the brand's parent company, L Brands, CNBC reported. Representatives for L Brands and Victoria's Secret did not immediately return Business Insider's request for comment but confirmed the departure with CNBC.
Holt is the latest executive to announce a departure from Victoria's Secret amid a turbulent time for the lingerie brand. The head of the company's lingerie business left her job in November and was replaced by a new CEO a few days later.
Former L Brands Chief Marketing Officer Ed Razek stepped down from his position in August, less than a year after he made controversial comments about transgender and plus-size models in an interview with Vogue.
Victoria's Secret is also laying off 50 people from its corporate headquarters in Columbus, Ohio, The New York Times reported on Thursday. The layoffs are equal to about 15% of its staff there.
"We're on the all-important journey to turn around the Victoria's Secret business," L Brands spokeswoman Tammy Roberts Myers told The New York Times. "As we've said, everything is on the table including having the right talent in the right places."
In the past year, Victoria's Secret has faced dropping sales and store closures. The company has also been criticized for its hyper-sexualized image.
L Brands CEO and founder Les Wexner recently came under scrutiny for his connection to convicted sex offender Jeffrey Epstein, who was arrested and charged with sex trafficking in July. Epstein later died by suicide in jail.