Online retailer Stitch Fix is laying off 15% of its salaried staff, or about 330 roles, in the latest example of spending cuts by struggling e-commerce firms amid a broader sales slowdown, according to an email sent to employees on Thursday and viewed by The Information. Most of the cuts will involve corporate roles and people who manage the company’s stylists, which select personalized outfits...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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