One Kings Lane Will Cut Up to 20% of its Staff
Just six months after landing a big round of investment that valued One Kings Lane at $900 million, the online home decor retailer is laying off between 75 and 100 people, according to a person familiar with the plans. Some employees were notified of the cuts on Tuesday, this person said. The cuts will eliminate between 15 percent and 20 percent of the staff. A One Kings Lane spokeswoman declined to comment. In January, the online retailer announced a $112 million investment round led by Mousse Partners, bringing total funding to more than $220 million.