SEATTLE (BRAIN) — REI Co-op laid off about 8% of its headquarters' workforce at the end of January, impacting 167 leaders and employees as it faces increasing economic uncertainty.
"It is vital that we get the co-op back to profitability as quickly as possible," CEO Eric Artz said in a message to employees on Tuesday. "I know we can get there, but it will require each of us to work very differently. In the year ahead, we will align around a few vital strategic priorities to ensure we are making the best use of the co-op's resources to serve members, customers, and support our long-term impact goals. This also means centering our work around the customer and member experience."
Artz said the layoffs will allow REI to reorganize and combine several headquarters' divisions so that teams are organized around a focused set of priorities.
Affected full-time employees are being offered a severance package that provides access to four months of healthcare through COBRA coverage, paying for remaining vacation time and 2022 bonuses, and providing outplacement support
