J. Crew Shakes Up Management, Cuts Jobs in Bid for Profitability
- Operating chief will begin overseeing the J. Crew brand
- Company will eliminate 250 positions, mostly at headquarters
A J. Crew Group Inc. store ahead of its official opening, in Paris, France, on March 4, 2015.
Photographer: Marlene Awaad/BloombergJ. Crew Group Inc., the struggling apparel chain, will shake up its management ranks and cut 250 jobs in a bid to revive growth.
As part of the overhaul, Chief Operating Officer Michael Nicholson will begin overseeing the J. Crew brand, including marketing and design decisions. Nicholson, a 50-year-old former Ann Inc. executive who joined the retailer last year, also has the job of chief financial officer, giving him a central role in the attempt to turn around the business.