Lululemon (LULU) cuts some jobs in reorganization effort - Bloomberg

Investing.com -- Lululemon Athletica Inc. (NASDAQ: LULU) is cutting approximately 150 corporate jobs as part of changes to its organizational structure, according to Bloomberg, citing a company spokesperson.

The job reductions will affect employees at the company's store support centers, according to a statement from the athletic apparel retailer.

"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.

The spokesperson added that "this is not a decision we made lightly, and we are committed to supporting our employees through this transition."

The Canadian Press was the first news outlet to report on the job cuts.

The company did not provide additional details about which specific departments would be affected by the workforce reduction or what severance packages might be offered to departing employees.

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