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 reportedĀ 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…

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 reportedĀ 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.”Visit Business In
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