In a move to re-align the organization to its new strategic direction, Eddie Bauer Holdings announced a reorganization of their corporate staff across three locations, eliminating a total of 123 employees in Bellevue, Chicago, and Columbus. 76 of which were out of Bellevue.
Neil Fiske, President and CEO, commented, “We have taken a major step to streamline the organization, simplifying process, and focus our resources on our strategic priorities. We acknowledge in our last earnings call that our overall costs are too high and that we were going to take action in early 2008 to become more cost competitive.”
The Downtown Bellevue headquartered company which is located at Lincoln Square is looking to cut $25-30 million out of the operating cost structure of the business with the end result being a “leaner, stronger, and more focused organization.”
Among one of the biggest moves this month, all design functions are to report directly to Neil Fiske, CEO, including the newly-developed Outerwear, Activewear and Gear group.
On a personal note, we here at the Downtown Bellevue Network wish the best for those who were laid off and hope that Eddie Bauer can regain its footing in the marketplace.