Rent the Runway Cuts 10% of Corporate Staff in Restructuring Plan

CEO Jennifer Hyman aims for profitability amid challenges, focusing on growth through marketing and partnerships.

Rent the Runway, the fashion rental company, is cutting 10% of its corporate jobs, equivalent to 37 employees, as part of a restructuring plan.
Anushka Salinas, the company's chief operating officer and president, will leave at the end of the month.
CEO Jennifer Hyman says the restructuring is designed to help the company break even and achieve profitability.
Despite challenges, including a major blow from the pandemic and a decline in paid subscribers, Hyman believes that consumer behavior is returning to the pre-pandemic norm.
The company is focusing on investing in marketing, PR, and partnerships to grow the business.