L Brands to Restructure Victoria's Secret, Cut About 200 Jobs
L Brands Inc. said it would restructure its Victoria's Secret business in an attempt to streamline operations and focus more on its core merchandise, as the retailer reported better-than-expected growth Thursday across its established stores in March. The restructuring comes two months after Sharen Turney resigned as Victoria's Secret chief executive. Victoria's Secret will cut about 200 home office associates in New York and in Columbus, Ohio, where the company is based. The company also will eliminate certain merchandise categories and focus resources on core merchandise, where L Brands sees the most potential for growth.