Victoria’s Secret & Co cuts 160 jobs, announces leadership changes

Victoria's Secret & Co announced Tuesday it has cut around 160 management roles, or approximately 5 percent of its home office headcount, as part of a reorganisation of the business.

The US retailer also announced a number of changes to its leadership team. Amy Hauk, who has been chief executive of the company’s Pink brand since 2018, will take on the additional role of CEO of the Victoria's Secret brand.

Victoria's Secret & Co chief executive Martin Waters said in a statement: “Uniting our brands as a single, collaborative organization under Amy’s leadership will bring greater focus and discipline to our merchandising expertise while streamlining our processes and improving our speed to market.”

Additionally, Christine Rupp has joined the company as chief customer officer, where she will be responsible for “creating a seamless store and digital commerce business”. She joins from Albertsons, where she has served as chief customer and digital officer since 2019.

Prior to Albertsons, she spent 10 years at Amazon, most recently serving as vice president of Amazon Prime.

Victoria's Secret in leadership reshuffle

Greg Unis, who has led the Victoria’s Secret and Pink Beauty businesses since 2016, has been named as the company’s chief growth officer. In his new role, he will be responsible for the VS&Co-Lab platform, new business development, international expansion, and mergers and acquisition opportunities.

Victoria’s Secret said it expects its efforts to streamline the company to result in an estimated 40 million dollars in cost reduction in the run rate of the business on an annualized basis beginning in the third quarter of fiscal 2022.

The changes come after Victoria's Secret last year separated from L Brands to become its own standalone company.

Waters continued: “Over the last year, we have progressed a thoughtful revolution of our business by redefining the Victoria’s Secret brand and rebuilding our strategy for growth. We can now better connect with and represent our millions of customers around the globe.

“As a result, we have more relevant brand positioning, more compelling merchandise assortments, and a more inclusive culture that celebrates our people. With our brand revolution well underway and gaining momentum, now is the time to reimagine our leadership structure to better align with a shifting consumer landscape and become more efficient as an organization.”