Lululemon Athletica Inc. is reducing its corporate headcount by about 150 jobs due to changes to the company’s organizational structure.
The impacted roles are at the retailer’s store support centers, according to a statement from the company.
“Following a recent review, we have decided to evolve some aspects of our organizational structure to operate with more agility and further invest in our growth,” a spokesperson said in the statement, adding that “this is not a decision we made lightly, and we are committed to supporting our employees through this transition.”
The Canadian Press first reported the news.
Lululemon shares fell the most in five years earlier this month after quarterly earnings and outlook for the full year disappointed investors. The results fueled new concerns about the company’s growth trajectory amid increasing competition, new tariffs and shifts in consumer preferences.
The shares dropped less than 1 percent at 10:42 a.m. on Wednesday in New York. The stock has declined about 39 percent so far this year.
By Lily Meier and Kim Bhasin
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